Published Jul 6, 2026, 5:48 AM ET · Updated 4 months ago · 1 source
THE BLOCK: Bernstein says bitcoin's 54% drawdown from its $125K November peak is far milder than previous cycles' 75-90% declines. The analysts note Strategy has bought around 175K bitcoin:native for $14B in 2026, continuing to buy as U.S. miners turn sellers. Bernstein also retains a $150K year-end target, now calling it "ambitious" after the drop.
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Original Report
THE BLOCK: Bernstein says bitcoin's 54% drawdown from its $125K November peak is far milder than previous cycles' 75-90% declines. The analysts note Strategy has bought around 175K bitcoin:native for $14B in 2026, continuing to buy as U.S. miners turn sellers. Bernstein also retains a $150K year-end target, now calling it "ambitious" after the drop.