"We believe with reasonable confidence that Bitcoin and broader digital asset markets have bottomed,"
"As we have highlighted earlier, we believe the market concern on the four-year cycle pattern is unwarranted in the current market context, where institutional demand is driving adoption,"
"overstated"
Bitcoin traded near $92,000 after a volatile quarter that included a roughly 35% drop from an October peak above $126,000 and forced liquidations. Late-November lows near $80,000 are identified as the likely trough of the cycle. December marked a third consecutive monthly decline, a historically rare pattern, yet technical and macro signals now favor a rebound. Institutional demand and tokenization initiatives are cited as extending the bull market beyond historical four-year cycle norms. Bernstein maintains targets of $150,000 for 2026 and $200,000 for 2027, and views 2025 as broadly constructive for crypto equities and IPOs.
Read at Bitcoin Magazine
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