Standard Chartered’s Geoff Kendrick, head of research for digital assets at Standard Chartered, says that itcoin could suffer greater losses as the risk appetite declines and global pressure increases.
The note was reported by Bloomberg, Kendrick said The U.S. Economic momentum is weakening and expectations are lower. Federal Reserve rate cuts The crypto market has been impacted by this. He said that the decline of digital-asset ETFs had removed a major source for demand.
Kendrick has warned that bitcoin might drop to $50,000, and Ethereum may fall towards $1400. Both could stabilize later this year. BTC trades Near $67,869 following a low of $60,08 last week.
Standard Chartered has cut by a third its bitcoin year-end forecast, reducing its target for 2026 to $100,000. Standard Chartered cited the deteriorating macro-economic conditions as well as the potential for further investor capitulation.
Bitcoin is already experiencing a large correction. falling as much At its worst closing on Friday, February 5, it was down as much as 50 % from the record high of October 2025. Standard Chartered says that half the BTC is still in profit. This represents a dramatic decline, though not as severe as in previous bear cycles.
Banks cite a low-interest rate backdrop as one of the biggest obstacles.
The markets have moved back the expectations of Fed easing. Now, investors are looking forward to the first cut in later this year. Kendrick noted that uncertainty about future Fed leadership had increased caution.
ETFs are also still a source of concern. Standard Chartered Estimated bitcoin ETF holds have fallen by nearly 100,000 BTC from the peak of October 2025. Many ETFs have unrealized losses due to an average purchase near $90,000, which could lead to additional pressure on the market.
Although the downgrade was near term, the bank still maintained a positive longer-term outlook. Kendrick stated that the on-chain data is continuing to improve, and that the downturn in the market hasn’t led to major platform failures. This was unlike the cycle of 2022 that resulted in the collapses of Terra/Luna or FTX.
Standard Chartered continues downgrading Bitcoin
Standard Chartered Bank was established in the month of December, last year. halved In its predictions, it predicted that Bitcoin would reach $100,000 by the end of 2025, and $150,000 at the end of 2026. However, a target price for $500,000 was pushed back to 2030. Bitcoin failed to reach $100,000 before the end of 2025.
At the time, it cited slowing ETF flow and fading corporate demand. Geoffrey Kendrick said corporate accumulation has “run its course,” ETF flows are the major driver.
Bitcoin Magazine Pro’s data shows that the current Bitcoin price is around $67,000.
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Source: bitcoinmagazine.com
