Investment bank Standard Chartered has revised its short-term and annual price predictions for leading cryptocurrencies, noting ongoing downside risks attributed to exchange-traded fund (ETF) outflows and a challenging macroeconomic environment. The bank anticipates that Bitcoin (BTC) will decline from its current trading price of approximately $66,988.52 to around $50,000 in the upcoming months, while Ethereum (ETH) could hit a low of about $1,400.
At the time of this report, Bitcoin was trading near $67,900, with Ethereum priced around $1,980. Geoff Kendrick, the head of digital assets research at Standard Chartered, suggested that the recent market selloff could persist as ETF investors, many of whom are currently facing losses, might prefer to minimize their exposure rather than “buy the dip.” Kendrick expects that once the market finds its bottom, a recovery could unfold throughout the remainder of 2026.
The analyst has decreased his year-end projections for Bitcoin to $100,000, a reduction from a previous estimate of $150,000. Similarly, the forecast for Ethereum has been lowered from $7,500 to $4,000. Other adjustments include Solana (SOL) projected to drop to $135 from $250, BNB Chain (BNB) revised to $1,050 from $1,755, and AVAX (AVAX) expected to decline to $18 from $100.
The cryptocurrency market has seen a significant downturn in early 2026, with Bitcoin experiencing a nearly 23% decline since the start of the year. This downturn has been characterized by increased volatility, substantial liquidations of leveraged positions, and a pervasive risk-off sentiment that has caused Bitcoin and other cryptocurrencies to correlate more closely with weakening equity markets.
Macro factors, such as concerns regarding global economic growth and interest rate forecasts, have driven investors towards traditional safe-haven assets like gold. Additionally, a lack of regulatory clarity, especially in the United States, coupled with liquidity issues at certain institutions, has further undermined market confidence. These elements have culminated in diminished trading revenues for firms involved in cryptocurrency and fostered bearish sentiment across a wide range of tokens.
Kendrick highlighted that holdings of Bitcoin ETFs have plummeted by nearly 100,000 BTC from the peak observed in October 2025. With the average purchase price for these ETFs hovering around $90,000, many investors are now dealing with unrealized losses of approximately 25%.
The existing macroeconomic conditions are also impacting market sentiment. Despite indications of softening in U.S. economic data, markets do not expect any interest rate cuts prior to Kevin Warsh”s inaugural Federal Open Market Committee meeting as Federal Reserve chair in mid-June, limiting immediate support for risk assets.
Even with the anticipated capitulation, Standard Chartered noted that the current market drawdown is less severe compared to previous cycles. Bitcoin saw a decline of about 50% from its all-time high in October 2025 at its lowest point in early February, with around half of the supply still remaining profitable—indicating sharp declines, but not as extreme as previous downturns.
Importantly, this cycle has not witnessed the collapse of major cryptocurrency platforms, a contrast to the failures of Terra/Luna and FTX seen in 2022. Kendrick believes this indicates a maturation and increased resilience within the asset class. He has maintained his long-term projections, keeping the end-2030 targets for Bitcoin at $500,000 and for Ethereum at $40,000, asserting that usage trends and fundamental drivers remain strong.
In December, Kendrick had already reduced his bullish forecasts for Bitcoin, reflecting the evolving landscape of cryptocurrency investment and market dynamics.
