The Daily: Standard Chartered slashes 2025 bitcoin target, PNC rolls out direct BTC trading for high-net-worth clients, and more

Standard Chartered has halved its 2025 Bitcoin price target to $100,000, pushing its $500,000 long-term prediction to 2030, citing a recalibration due to slowing ETF flows replacing the halving cycle as the main price driver. Despite this, the bank remains structurally bullish, viewing the current drawdown as a "cold breeze" rather than a "crypto winter."

In institutional news, PNC Bank introduced direct spot Bitcoin trading for its private banking clients through a Coinbase integration, aiming to retain high-net-worth clients' crypto activity internally. PNC plans to expand this service to institutions next year.

Separately, Bitwise CIO Matt Hougan projected that the crypto market could see 10–20x growth over the next decade, supported by trends like tokenization and stablecoins, referencing a forecast that all U.S. equities could eventually move onchain ($68 trillion). Other updates include HashKey launching its Hong Kong IPO seeking up to $215 million, and a 22-year-old pleading guilty to laundering $3.5 million for a $263 million crypto syndicate.

(Source：The Block)