Standard Chartered Slashes Bitcoin Price Target to $100K
Standard Chartered has slashed its 2026 Bitcoin price target to $100,000, down from previous, more bullish forecasts. The bank cited ongoing spot ETF outflows and investor anxiety over U.S. Federal Reserve policy as key reasons for the downward revision.
- This is the second significant reduction to the bank's 2026 forecast in the last few months; in December 2025, the target was lowered from $300,000 to $150,000. - Geoff Kendrick, the bank's head of digital assets research, also warned that Bitcoin could first drop to as low as $50,000 before a potential rebound. - The bank's analysts estimate that Bitcoin ETF holdings have declined by nearly 100,000 BTC since their peak in October 2025. - With an average purchase price near $90,000, many ETF investors are now holding significant unrealized losses, which the bank believes makes further selling more likely. - Standard Chartered also revised its year-end 2026 price target for Ethereum, cutting it from $7,500 to $4,000. - The downgrade is also influenced by macroeconomic factors, as markets no longer anticipate U.S. Federal Reserve interest rate cuts before a potential leadership change in June. - Despite the near-term bearish outlook, the bank's long-term forecast remains unchanged, projecting Bitcoin could reach $500,000 by 2030.
