Bernstein sees new USDC growth cycle, sets $140 Circle price target

Bernstein: Maintains year-end target price of $150,000 for Bitcoin; current pullback is still weaker than historical cycles.

According to Mars Finance, on July 7th, despite a roughly 54% drop in Bitcoin's price from its October 2025 high of nearly $125,000, Bernstein maintained its year-end target price of $150,000. Bernstein believes that the current pullback is significantly less than the 75% to 90% declines commonly seen at the end of historical cycles, indicating a shift in market structure. In the current context of low market sentiment, Wall Street's clear target prices provide a price anchor, while historical retracement frameworks help traders assess risk. If this cycle follows historical trends, the market may still decline further, but institutional assessments of the subsequent recovery are still worth noting. The firm points out that the previous high of nearly $125,000 in October 2025 remains a significant resistance level; based on a historical 75% retracement, the corresponding price is approximately $31,000, which can be considered a key failure zone. Going forward, we will focus on whether the inflow of funds into Bitcoin spot ETFs and spot demand will rebound, as these are important signals for judging whether the market has entered a recovery phase.