Investment bank Standard Chartered has cut its short-term and full-year price forecasts for major cryptocurrencies, citing continued downside risks as exchange-traded fund (ETF) outflows and a challenging macro backdrop weigh on the market.
The Bank Now Expects Bitcoin Ethereum price will fall to around $50,000 in the coming months A possible bottom is near $1,400.
At press time, the world’s largest cryptocurrency was trading at approximately $67,900. The second-largest Ethereum coin is trading at around $1,980.
Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said the sell-off in recent weeks is likely to continue as ETF investors, many of whom suffered losses, are more likely to reduce their exposure rather than “buy the dip.”
Kendrick said he expects a recovery for the rest of 2026 once prices hit bottom. The analyst lowered year-end targets for Bitcoin to $100,000 from $150,000 and Ethereum to $4,000 from $7,500, solana BNB chain, rose from $250 to $135 from $1,755 to $1,050, and Increased from $100 to $18.
Cryptocurrency markets weakened sharply in early 2026, with major assets such as Bitcoin falling sharply from their late 2025 highs, and total market capitalization falling sharply in recent weeks. Bitcoin has fallen nearly 23% since the beginning of the year.
The downturn has been characterized by heightened volatility, massive liquidations of leveraged positions and widespread risk aversion, making cryptocurrencies more closely linked to stock market weakness.
Macro pressures such as worries about the outlook for global growth and interest rates have prompted investors to turn to traditional safe-haven assets such as gold, while stalled regulatory clarity, especially in the United States, and tight liquidity at some institutions have weighed on confidence. These factors have combined to reduce trading revenue for cryptocurrency companies and lead to pessimism for many coins.
Kendrick said that Bitcoin ETF holdings are down by nearly 100,000 BTC from the peak in October 2025. The average purchase price for the ETF was about $90,000, leaving many investors with unrealized losses of about 25%.
The macro environment also weighed on market sentiment. Kendrick noted that while U.S. economic data is showing signs of weakness, markets are not pricing in an interest rate cut until Kevin Warsh’s first Federal Open Market Committee meeting as Fed chairman in mid-June, limiting near-term support for risk assets.
Despite the expected capitulation, the bank said the current pullback was less severe than previous cycles. At its worst moments in early February, Bitcoin was down about 50% from its all-time high in October 2025, and about half of the supply was still in the black. The decline, while significant, was not as severe as in previous downturns.
Crucially, unlike the failures of Terra/Luna and FTX in 2022, this cycle did not see the collapse of a major crypto platform. Kendrick said this shows the asset class is maturing and becoming more resilient.
The analyst kept his long-term forecast unchanged, maintaining his target of $500,000 for Bitcoin and $40,000 for Ethereum by the end of 2030, arguing that usage trends and structural drivers remain unchanged.
The analyst previously downgraded his bullish forecast for Bitcoin in December.
Read more: Standard Chartered drops bullish Bitcoin forecast
