Bitcoin traded within a tight range on Saturday, slipping about 1% over the past week as broader selling pressure weighed on the crypto market.
Despite the mild pullback, research and brokerage firm Bernstein has maintained its bullish long-term outlook, projecting that Bitcoin could climb to $150,000 by the end of 2026.
According to the firm, the current selloff represents a far milder market correction than previous crypto downturns. Historical trends demonstrate that Bitcoin naturally undergoes substantial retracements following major bull runs. For instance, after the 2013 rally, Bitcoin topped near $1,150 before plummeting roughly 84%.
Similarly, the 2017 high of $20,000 was followed by a 77% decline, and the 2021 peak near $69,000 was followed by an approximate 70% pullback.
Each cycle has been marked by intense fear, yet history shows that these corrections are temporary, ultimately paving the way for renewed phases of expansion.
 
The analysts stress that while the current volatility may appear severe in the short term, it fits within the broader historical cycles of the cryptocurrency.
Elsewhere, popular analyst Ali Charts emphasized the approaching 0.8 MVRV band, a historically significant support zone.
“Every Bitcoin bull market over the past decade began with a touch of the 0.8 MVRV band,” he noted.
Notably, Bitcoin is nearing this foundational support, situated between $60,000 and $56,000, which has historically acted as a launchpad for major rallies, including +963% in 2017, +261% in 2018, +1,126% in 2020, and +660% following the FTX collapse in 2022.
Meanwhile, CryptoQuant analyst Crypto Dan highlighted that current market conditions may be setting the stage for the next cycle. Based on realized price and profit/loss indicators, Bitcoin remains just above levels that have historically marked cycle bottoms.
He pointed out that overall sentiment has cooled significantly, with reduced participation and fading retail interest, classic signs of a bear market environment. Despite this, such phases have historically served as periods of accumulation rather than exit points.
“The current market sentiment is clear: most people have already left, and overall interest has faded significantly. A textbook bear market phase but a bear market is not a time to give up. It is the time to prepare for the next bull cycle.” He noted on Friday.
However, some analysts like Crypto Tony believe that BTC’s failure to hold above the $70,000 level may open the door to deeper declines before any meaningful recovery rally takes shape.
“Keeping below $70,000 is all we need to see to get that move down. Honestly, the move up today was lacking any impulse structure,” he wrote. “I would much prefer one smaller wave down to then give us the fuel for the corrective move up I shared yesterday.”
At press time, BTC was trading at $68,733, reflecting a 0.60% decline in the past 24 hours.
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