Standard Chartered, once one of bitcoin’s loudest bulls, has slashed its long-term price forecasts after the crypto’s sharp downturn forced a major reset of expectations. Geoff Kendrick, the bank’s global head of digital assets research, told clients the firm has halved its projected highs through the decade, abandoning its earlier belief that bitcoin could smash $300,000 levels in the near term.
Kendrick now expects bitcoin to finish 2025 at about $100,000, only around 6% higher than current levels. The revised 2026 target has been cut to $150,000, down from the previous $300,000 call. Updated forecasts through 2030 paint a more cautious path:
2026: $150k (old: $300k)
2027: $225k (old: $400k)
2028: $300k (old: $500k)
2029: $400k (old: $500k)
2030: $500k (no prior target)
The downgrade comes after bitcoin shed roughly 27% from its October peak, battered by low liquidity, renewed inflation concerns, uncertainty around 2026 Fed rate cuts, and broader risk-off sentiment across markets. Kendrick noted that “price action has forced us to recalibrate,” adding that corporate bitcoin treasuries, once seen as a major upside catalyst, are no longer expected to meaningfully drive prices. Instead, ETF inflows will be the primary engine for any future rally, though these inflows may only arrive “periodically.”
The market has been hit by several bearish shocks in recent months, including fears that Strategy, the largest corporate accumulator of bitcoin, may eventually be forced to offload part of its holdings. Combined with slower institutional demand and macroeconomic headwinds, bitcoin’s path forward appears more measured than the explosive run Standard Chartered once predicted.
ProCap seals SPAC merger as Anthony Pompliano accelerates Bitcoin-focused treasury strategy
