Standard Chartered sees bitcoin falling to $50,000, ether to $1,400 before rebound

Standard Chartered has lowered its near-term crypto outlook, predicting more pain and a final capitulation period for digital assets in the coming months. Geoffrey Kendrick, head of digital assets research, anticipates Bitcoin (BTC) falling to $50,000 or just below, and Ether (ETH) to $1,400, viewing these as buying opportunities before year-end forecasts of $100,000 for BTC and $4,000 for ETH. This represents a downgrade from previous targets. The bearish short-term view is attributed to declining Bitcoin ETF holdings, with average buyers facing unrealized losses, and unfavorable macro conditions suggesting delayed interest rate cuts. Despite the short-term pressure, Kendrick maintains a positive long-term outlook, noting the market's increased resilience compared to previous cycles due to growing institutional participation and the absence of major platform collapses.

(Source：The Block)