Bitcoin Holds $92,000 as Wall Street Analysts Signal Market Bottom

Bitcoin was trading near $92,000 on Tuesday, prompting analysts to suggest the brutal fourth-quarter sell-off, which saw the asset drop from over $126,000, may be over. Bernstein analysts, including Gautam Chhugani, expressed "reasonable confidence" that Bitcoin and digital assets have bottomed, citing late-November lows near $80,000 as the trough. They dismissed concerns about the traditional four-year cycle, arguing institutional adoption is now the primary driver. Bernstein maintained long-term price targets of $150,000 for 2026 and $200,000 for 2027, anticipating a tokenization "supercycle." Other observers, like Fundstrat's Sean Farrell, noted easing downside momentum and pointed to improving liquidity conditions as supportive, though he noted a potential drawdown risk early in 2026. Technically, holding resistance near $91,400 could lead to a test of $94,000 and potentially $98,000. The article also noted that a Bitcoin recovery is expected to benefit proxy equities like Strategy, potentially restoring its premium to net asset value.

(Source：Bitcoin Magazine)