Standard Chartered has slashed its year end Bitcoin $BTC ( ▲ 5.11% ) price forecast to $100,000 from $150,000 and now expects the cryptocurrency could fall as low as $50,000 in the coming months.
The downgrade reflects what the bank sees as a tougher macro backdrop and a lack of near term catalysts to drive prices higher.
More Pain Before Any Recovery
Geoff Kendrick, the bank’s global head of digital assets research, said he expects a final capitulation phase for crypto markets. He noted that the average Bitcoin ETF position is now down roughly 25%, increasing the odds that holders sell rather than buy the dip.
Bitcoin $BTC has been hovering around the mid $60,000 range, still down sharply from its October all time high and struggling to regain momentum after last week’s selloff. ETF flows have also turned negative again, with hundreds of millions in recent outflows.
Range Bound for Now
Several analysts believe Bitcoin will trade sideways for months. Apollo Crypto’s Pratik Kala expects price action to consolidate between roughly $58,000 and $68,000 before any meaningful breakout.
Glassnode analysts echoed that view, suggesting Bitcoin is likely to remain trapped within key on chain valuation bands unless a major catalyst emerges. A decisive move back above roughly $79,000 could signal renewed structural strength, while a breakdown below the mid $50,000s could trigger more forced selling.
Fragile Sentiment and Heavy Losses
Glassnode data shows recent buyers remain largely underwater, creating what analysts describe as a fragile market structure. Last week’s plunge also produced the largest realized loss in Bitcoin history at $3.2 billion.
For now, the consensus is clear. Bitcoin $BTC faces macro headwinds, soft ETF demand, and cautious sentiment. Until a major catalyst appears, a choppy grind between support and resistance may define the next chapter.