Standard Chartered Abandons Bullish Bitcoin Outlook
Standard Chartered’s head of foreign-exchange strategy Geoff Kendrick has tempered the bank’s near-term Bitcoin enthusiasm, lowering his year-end target to $100,000 and delaying a previously projected $500,000 milestone from 2028 to 2030. Kendrick described the market shift as a "cold breeze" rather than a full-blown "crypto winter," signaling a move from aggressive optimism to cautious realism among some institutional strategists.
The revision matters because it may dampen dealer and investor sentiment and recalibrate risk models that had baked in faster price appreciation. While the bank still implies long-term upside, the timeline extension reflects persistent macro and adoption uncertainties that could keep volatility elevated. Traders and portfolio managers may treat the update as a prompt to reassess position sizing and time horizons rather than a signal of permanent bearishness for BTC.