Bitcoin Hits Two-Week High as Bernstein Holds $150K Target

Bitcoin climbed to a two-week high near $63,900 on Monday, trading around $63,836 after an earlier peak. The price rose about 1.7% in 24 hours and more than 6% for the week. Bitcoin remains roughly 50% below its October all-time high and would need to gain about 135% from current levels to reach Bernstein’s $150,000 target.

Analysts at Bernstein kept the $150,000 year-end forecast and called the projection “ambitious.” The team wrote, “Bottom line, any crypto correction is painful, but this one has been rather comforting,” and added, “Crypto feels like it’s growing up. We remain optimistic on Bitcoin long-term.” The firm wrote it will watch BTC flows for signs of renewed buying pressure.

Bernstein highlighted regulatory developments as a potential catalyst. The analysts noted that odds of the Clarity Act’s passage were roughly 50% on a betting market and wrote that such legislation could increase market liquidity and encourage institutional adoption of crypto-native tokens and blockchain-based real-world assets.

Institutional behavior is a focus for market watchers. Bernstein’s analysis shows MicroStrategy sold about $216 million of Bitcoin last week to fund dividend payments while maintaining U.S. dollar reserves above $2.55 billion. Those reserves provide roughly 17 months of coverage for dividend and interest expenses; any reduction below 12 months would require board approval. Bernstein concluded it appears unlikely MicroStrategy will be forced into large, sustained Bitcoin selling and described the company as a net buyer.

Mining stocks drew attention after TeraWulf announced a 20-year lease with Anthropic that the company estimates could generate roughly $19 billion in revenue over the contract term. TeraWulf’s shares rose nearly 14% to about $24.05 after the announcement. Bernstein and other analysts wrote the deal helped lift confidence across several Bitcoin mining firms exploring data center and AI-related business lines.

Bernstein noted the recent correction removed some speculative excesses and wrote that any sustained advance will depend on renewed institutional buying and clearer regulatory signals. The firm wrote it will monitor flows into and out of Bitcoin and related investment products for confirmation of a trend reversal.

Bitcoin set its most recent all-time high in October and has traded unevenly since, influenced by macroeconomic shifts, regulatory debate and changes in institutional demand. Investors and analysts are watching policy proposals and corporate balance-sheet moves for clues about where the market may head next.