Standard Chartered Slashes Bitcoin Price Forecasts

Deep News12-11

One of Wall Street's biggest Bitcoin bulls has significantly downgraded its price projections for the cryptocurrency.

Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, previously predicted Bitcoin could surge to $200,000 by late 2025. However, in a recent client report, the bank sharply reduced its Bitcoin price targets through 2030.

Kendrick now expects Bitcoin to reach approximately $100,000 by year-end, representing just a 6% gain from current levels. For 2025, his revised forecast of $150,000 is roughly half the bank's prior $300,000 target.

The bank also cut its 2027 target from $400,000 to $225,000, its 2028 projection from $500,000 to $300,000, and its 2029 estimate from $500,000 to $400,000.

In Tuesday's report, Kendrick attributed these downward revisions primarily to Bitcoin's recent sell-off, which has seen prices drop about 27% from October's peak. "Price action has forced us to recalibrate our Bitcoin forecasts," he wrote, noting that institutional buying appears to have "run its course," though ETF inflows may "periodically" recover.

Bitcoin has faced multiple headwinds this year, including tariff-related market reactions, inflation concerns, and reduced expectations for Federal Reserve rate cuts in 2026. The latest decline reflects bearish factors like thin liquidity, risk-off sentiment amid rate uncertainty, and speculation that corporate buyer Strategy may liquidate portions of its holdings.

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