Bernstein, a Wall Street asset manager, forecasts Bitcoin to bottom near $60,000 in the first half of the year before starting a recovery. The firm cites Bitcoin's relative weakness to gold, ongoing institution-led market cycles, positive U.S. crypto policy, limited ETF outflows, and diversified miner income as key factors. Bernstein views the current price action as a late-cycle correction rather than the start of a new bear market.

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