Major Wall Street Bitcoin investors have reduced their short-term price targets following a recent decline in Bitcoin’s value, although long-term expectations remain intact. Standard Chartered, a prominent bank supporting cryptocurrencies, has nearly halved its Bitcoin price forecasts. The bank now expects Bitcoin to reach $100,000 by the end of 2025, down from an earlier projection of $200,000, and $150,000 by the end of 2026. However, the long-term target of $500,000 remains, with the timeline extended to 2030. This revision reflects a decrease in Bitcoin demand, particularly from corporate treasuries whose purchases previously played a significant role in market growth. Inflows into exchange-traded funds (ETFs) have also slowed. Geo Fre Kendrick, head of digital asset research at Standard Chartered, noted that the era of aggressive corporate buying has ended and future price increases will largely depend on ETF inflows. He anticipates market stability rather than widespread selling. Similarly, analysts at Bernstein have expressed a consensus outlook, forecasting Bitcoin to reach $150,000 by the end of next year and approximately $200,000 by 2027. They stated that Bitcoin has now detached from its historical four-year cycles, with institutional investment strengthening the market. Bitcoin’s price has dropped roughly 30% over recent months, falling below $126,000 in October. Significant fund outflows have been observed in Bitcoin spot ETFs recently, especially the largest redemptions in November from BlackRock’s iShares Bitcoin Trust. Nevertheless, total outflows account for less than 5% of total assets, with most ETF shares still held by retail investors, although institutional ownership has risen to 28%. Despite this, Bitcoin has recently gained over 4%, reaching around $94,640, pushing its market capitalization close to $1.86 trillion. Institutional investment trends continue, and major U.S. banks have begun facilitating instant Bitcoin transactions. Investors are currently guided by expectations of Federal Reserve interest rate cuts and other positive economic indicators. Bitcoin’s price remains near $94,000, with signs of market stabilization becoming evident.
Source: bitcoinmagazine
