While short-term volatility tied to U.S. economic data like PPI and CPI could trigger pullbacks, Bernstein outlines a strong structural outlook:
Bullish Case: Bitcoin climbs above $200,000 by late 2026, driven by ETF inflows and growing global adoption.
Base Case: Bitcoin consolidates between $120,000 and $150,000 through 2027, while altcoins pick up leadership.
Bearish Case: Macroeconomic shocks or regulatory pushback cap Bitcoin around $80,000–$90,000, though the longer-term cycle remains intact.