Why Has Bitcoin (BTC) Price Been Rising Lately? Bernstein Analysts Explain, Sharing Their 2026 Year-End Price Target!

Despite the continuing uncertainty brought about by the US-Iran war, Bitcoin ($BTC) has experienced a significant recovery in recent days. The $BTC price surpassed $74,000 during the day, a trend that also impacted altcoins.

Ethereum (ETH) rose 7.9% to $2,270, XRP increased 3.9% to $1.47, and Solana (SOL) increased 6.2% to $93.7.

While the factors triggering the rise are still being debated, a new report has come from the US investment bank Bernstein.

Bernstein stated that $BTC’s recovery stemmed from the strengthening of its long-term investor base.

According to The Block, Bernstein analysts said the recent recovery in $BTC stemmed from a strengthened long-term investor base, fueled by increased inflows into spot ETFs and institutional buying.

Analysts led by Gautam Chhugani explained that Bitcoin has outperformed other major assets despite rising geopolitical tensions in the Middle East.

The report stated that these trends were driven by spot Bitcoin ETF inflows and corporate Bitcoin accumulation. In this context, it was noted that increased buying could gradually reduce short-term selling pressure.

At this point, Bernstein analysts stated that as purchases from ETFs and companies increased, the market structure was gradually stabilizing.

Analysts also added that approximately 60% of the Bitcoin supply is held by long-term investors who have not sold their $BTC for more than a year.

Bernstein analysts recently reiterated their prediction that Bitcoin is experiencing its weakest bearish scenario in history, stating that their long-term price target of $150,000 by the end of 2026 remains valid.

*This is not investment advice.