Viewpoint: Crypto Bear Market Cycle Expected to Reverse in 2026, Bitcoin May Bottom Around $60,000

Odaily News Bernstein analysts predict that the crypto market is currently in a short-term bear market cycle but is expected to reverse in the first half of 2026. Bitcoin is anticipated to bottom around the previous cycle's high, i.e., the $60,000 range, before establishing a higher price floor. Bernstein notes that the past two years have been an institutional cycle for Bitcoin, with spot Bitcoin ETF assets under management growing to approximately $165 billion. Despite recent market adjustments, institutional participation remains resilient, and there has been no miner leverage collapse similar to previous cycles. Additionally, the establishment of a U.S. strategic Bitcoin reserve and potential changes in Federal Reserve leadership could position Bitcoin as a national sovereign or reserve asset. Bernstein believes the current weakness is a late-cycle correction rather than a prolonged crypto winter, and the 2026 reversal will lay the foundation for Bitcoin's most influential cycle.