Bernstein analysts are much more bullish on Bitcoin, revising their price target to $200,000 by next year. This surge in optimism follows strong inflows into spot Bitcoin ETFs. Their new target, previously $150,000, is driven by the expected growth of these ETFs, which will reach 7% of total supply by 2025. Bernstein expects wider ETF approval from major institutions in the coming quarters, which could significantly boost Bitcoin's value.
