Standard Chartered lowered its long-term outlook for Bitcoin (BTC) for the second time in less than three months as the cryptocurrency market appears to have entered a new bearish cycle.
Standard Chartered Cuts Bitcoin Target to $100,000In a note published Thursday, Geoff Kendrick, Standard Chartered’s head of digital assets research, said the bank now expects Bitcoin to reach $100,000 by the end of 2026.
The latest figure marks a significant reduction from its previous $150,000 projection for BTC. The revision follows an earlier downgrade in December, when the bank cut its target from an ambitious $300,000.
The leading cryptocurrency has declined more than 40% from its October peak toward current trading prices of around $67,160, while the US spot Bitcoin exchange‑traded funds (ETFs) sector has seen nearly $8 billion in net outflows.
The interest‑rate environment remains a central concern. Markets have pushed back expectations for Federal Reserve easing, with investors now anticipating that the first rate cut may come later in the year than previously thought.
Ethereum Could Drop To $1,400Kendrick highlighted that on‑chain activity data continues to show improvement, suggesting that underlying network usage remains healthy.
Moreover, the bank’s head of research highlighted that the market has not experienced the type of high‑profile platform failures that defined the 2022 cycle, when the collapses of Terra/Luna and FTX triggered widespread contagion.
Featured image from OpenArt, chart from TradingView.com
