Standard Chartered has once again lowered its Bitcoin forecast for 2026.
“I think we’re going to see more pain,” stated Jeffrey Kendrick, the bank’s global head of digital asset research, in a note to investors on February 12. The bank has revised its Bitcoin year-end forecast down from $150,000 to $100,000.
Similarly, Standard Chartered has adjusted its Ethereum estimate from $7,500 to $4,000. Predictions for Solana and XRP have also been reduced, now standing at $135 and $2.80 instead of the previous $250 and $8.
Kendrick mentioned that they expect Bitcoin to potentially dip below $50,000 shortly, while Ethereum might drop to around $1,400 before recovering to its year-end target. He referenced anticipated investor behavior concerning Bitcoin ETFs.
Since October, investors in the Bitcoin ETF have reportedly withdrawn about 100,000 BTC, he noted, adding that “further capitulations” are expected, especially since many investors are stuck with substantial losses at current prices, which have an average purchase price of $90,000.
The macroeconomic environment isn’t favorable either, according to Kendrick. He pointed out that the U.S. economic outlook is mixed, and a rate cut is not expected until a president, presumably Kevin Warsh, is appointed. Warsh could take office in May, which Kendrick believes will delay any new inflows into Bitcoin ETFs.
Bitcoin and Ethereum are currently trading at about $67,000 and $2,000, respectively. Earlier this year, prices had already dropped to around $60,000 and $1,700 due to liquidity issues and a lack of a clear narrative.
Standard Chartered’s latest prediction is a continuation of its downward adjustments; just a month ago, it had previously lowered the Bitcoin forecast from $300,000 to $150,000, attributing this to decreased buying from a digital asset treasury firm.
Despite the short-term gloom, Kendrick expressed optimism for the long-term, mentioning that “long-term factors remain intact,” and the recent downturn hasn’t caused any widespread collapses among crypto projects or companies.
