Standard Chartered has lowered its long-term Bitcoin (BTC) price forecasts, warning that a key pillar of recent demand, corporate Bitcoin buying, is likely over.
The bank now believes future gains in Bitcoin will be driven by a single source: exchange-traded fund (ETF) inflows, a shift that could slow the pace of upside in the years ahead.
Sponsored
Sponsored
Bitcoin’s Pullback ‘Painful but Normal’
In a new note, Standard Chartered’s Head of Digital Asset Research, Geoff Kendrick, said the bank is pushing back its timeline for Bitcoin reaching $500,000 and lowering its year-end price targets for 2026 through 2029.
Bitcoin’s recent price action has unsettled investors, but Standard Chartered argues the sell-off fits historical patterns rather than signalling a structural downturn.
Kendrick noted that Bitcoin has fallen around 36% from its all-time high on October 6, a decline comparable to other drawdowns seen since the launch of US spot Bitcoin ETFs.
The timing of the peak has fuelled renewed fears of a crypto winter, with Bitcoin topping roughly 18 months after the April 2024 halving, a pattern seen in past cycles.
Sponsored
Sponsored
However, Standard Chartered rejects the idea that the traditional halving-driven cycle still dominates Bitcoin’s price behaviour.
Corporate Bitcoin Buying Losing Steam
The more concerning signal, according to Standard Chartered, is the apparent end of aggressive Bitcoin accumulation by listed digital asset treasury companies (DATs).
Kendrick said valuations no longer justify further expansion by these firms, which have played an increasingly visible role in driving demand over the past year.
Sponsored
Sponsored
While the bank does not expect widespread selling from these companies, it also does not expect them to underpin prices going forward.
Sponsored
Sponsored
ETF Inflows Will Be A Key Support
With corporate Bitcoin buying fading, Kendrick believes the next phase of Bitcoin’s price trajectory depends almost entirely on ETFs.
That shift has prompted Standard Chartered to delay its most bullish projections.
Still, the bank maintains its long-term optimism, just on a longer timeline.
Source: https://beincrypto.com/standard-chartered-sounds-alarm-a-major-bitcoin-buyer-has-disappeared/
