Cryptocurrency analysts believe that Bitcoin will rise significantly by the end of the year

Analysts at the investment firm Bernstein believe that Bitcoin’s current bear market is significantly different from previous ones. Since October 2025, when it peaked, the first cryptocurrency has fallen in price by approximately 54%. By comparison, in previous cycles, the decline reached 90%. According to experts, this more moderate correction indicates that the market is maturing, although it is still too early to definitively say that the downturn has ended.

This year, large corporations and spot Bitcoin ETFs have collectively attracted about $ 10 billion, whereas last year that figure stood at $ 60 billion. Despite a net outflow of $ 5.5 billion from ETFs, total assets under management remain at around $ 74 billion, making the situation less critical than it might seem. Analysts cite corporate buyers as the main driver of demand for Bitcoin, particularly Strategy, the largest public corporate holder of the asset.

Since the beginning of the year, Strategy has acquired approximately 175,000 BTC worth about $ 14 billion. The company’s debt obligations account for about 13% of the value of its total Bitcoin reserves, and the next major debt repayment is not scheduled until the third quarter of 2028. The available liquidity buffer is sufficient to cover dividends and interest payments for at least 17 months. According to Bernstein’s assessment, the current capital management model makes a large-scale forced sale of Bitcoin by the company unlikely.

Strategy’s purchases, analysts believe, have effectively offset sales by major U.S. miners, a significant portion of whom are shifting their focus to building infrastructure for artificial intelligence. Bernstein predicts that the largest publicly traded U.S. mining companies may eventually abandon Bitcoin mining entirely. Their share of the global hash rate will then be taken over by operators from Southeast Asia, Central Asia, and Latin America.

SkyBridge Capital founder Anthony Scaramucci also expressed a similar view on the current market situation. According to him, Bitcoin’s current correction is consistent with the dynamics of previous market cycles, and once the downtrend ends, the cryptocurrency will resume its upward trajectory. Bernstein, for its part, maintains its forecast that Bitcoin will reach $ 150,000.