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The "Weakest Bear Case" Projection
In a more bullish stance, Bernstein analysts have reiterated a $150,000 price target for late 2026. They argue that the current 45–50% drawdown from the October 2025 high of $126,000 is the "weakest bear case in history" because it lacks the systemic collapses (like FTX or Terra/Luna) seen in previous cycles. $BTC