The crypto rally may have much more fuel left. Analysts at Bernstein say the current bull market could stretch all the way into 2027, supported by U.S. policy moves and stronger institutional adoption.
Here are the details you can’t miss out on.
Bitcoin Still Leads, But the Market Is Widening
Bernstein expects Bitcoin to climb to $150,000-$200,000 within a year. But this time, the firm says the rally will not be limited to Bitcoin alone.
“The Trump administration is in mission-critical mode to build the U.S. into the crypto capital of the world,” wrote analysts Gautam Chhugani and Mahika Sapra, arguing that policy support could extend the cycle well beyond past peaks.
According to the note, Ethereum, Solana, and DeFi tokens will take the lead in the next phase, bringing new inflows to exchanges and stablecoin issuers. DeFi names like Chainlink, Uniswap, Polkadot, Stellar, and Hyperliquid were highlighted as standouts.
Big Gains for Coinbase, Robinhood, and Circle
Bernstein also raised targets for three major U.S. crypto players.
- Robinhood (HOOD): Price target lifted from $105 to $160 after crypto volumes hit $16.8 billion in July, up 110% from June. The Bitstamp acquisition and new staking and tokenized products in Europe are seen as key growth drivers. Bernstein noted Robinhood’s model gives crypto exposure “without the same volatility as pure-play exchanges.”
- Coinbase (COIN): Target raised to $510. July volumes crossed $100 billion, with transaction revenue up 44%. Analysts flagged Coinbase’s push into perpetual futures, its $2.9B Deribit acquisition, and its central role in USDC adoption. Bernstein described the exchange’s strategy as building the “AWS of crypto.”
- Circle (CRCL): Target held at $230. Bernstein projects USDC’s supply could rise from $68B today to $173B by 2027. Circle’s Arc blockchain and partnerships with banks and payment providers are seen as key to its growth.
A Longer, Broader Cycle Ahead
Bernstein calls this a “long, exhausting” bull market that could peak in 2027. Unlike past cycles, the momentum is expected to spread beyond Bitcoin into Ethereum, Solana, and DeFi, alongside the rapid growth of stablecoins.
With U.S. policy support and institutional money driving the trend, analysts argue the crypto market is entering a new phase – deeper, broader, and more connected to global finance than ever before.
