Bernstein Holds $150K Bitcoin Target as AI Rotation Slows 2026 Inflows

Bitcoin trades near $63,800 — down 27% year-to-date and roughly 50% below its $126,000 all-time high — after briefly crashing below $60,000 last week, its lowest since October 2024. The selloff was driven by $2.9 billion in spot ETF outflows since May 15, a blowout May jobs report (172,000 vs. 85,000 expected) pushing December Fed rate hike odds to 68% under new Chair Kevin Warsh, and broad AI-sector capital rotation. Bernstein, maintaining its $150,000 year-end target, argues the slowdown reflects a maturing institution-led market rather than structural breakdown, with 2026 ETF and treasury inflows collapsing to $12 billion from $60 billion in 2025. Strategy's purchase of 1,550 BTC for $101 million eased fears from its earlier 32-BTC sale, while on-chain supply-in-profit data near the 50/50 level signals a potential cyclical bottom ahead of Wednesday's CPI print and the June 17–18 FOMC meeting.