Bitcoin drops to $66K as Standard Chartered cuts year-end targets across digital assets

Bitcoin declined by 2% on Thursday, nearing $66,000, pulling down other major cryptocurrencies like Ethereum, Solana, and XRP. This market dip followed Standard Chartered's decision to significantly cut its short-term and full-year price forecasts for digital assets. The bank now anticipates Bitcoin could fall near $50,000 in the short term, with Ethereum potentially hitting $1,400, citing that ETF investors holding losses are more likely to sell than buy the dip. Standard Chartered slashed its year-end targets from $150K to $100K for Bitcoin, and from $7,500 to $4,000 for Ethereum, alongside reductions for Solana and BNB Chain. The broader markets also retreated, with the S&P 500 and Nasdaq falling, and sharp sell-offs observed in gold and silver.

(Source：Crypto Briefing)