Bernstein predicts that the crypto bear market may reverse by 2026, with Bitcoin expected to bottom out near $60,000. According to a recent report from investment research firm Bernstein, the current crypto market may still be in a short-term bear cycle, but this trend is expected to reverse within 2026, possibly in the first half of the year. The report estimates that Bitcoin's price will bottom out near the previous cycle's high point (around $60,000), establishing a higher price base. The current market structure differs from past retail-driven booms and busts, with the influence of institutional cycles being evident. The report points out that policy changes in the U.S., such as the government seizing Bitcoin to build reserves and leadership changes at the Federal Reserve, could serve as market catalysts. Additionally, the report emphasizes that institutional participation remains active, ETF outflows are limited, and there have been no large-scale miner leverage liquidations like in previous cycles. Companies like Strategy have continued to increase holdings during market declines, while miners are expanding revenue channels into AI-related data center businesses. Bernstein concludes that the current market weakness may be a late-stage correction rather than the start of a prolonged winter. By 2026, the market could reverse, ushering in Bitcoin's "most impactful cycle." #BTC