Standard Chartered Bank analyst: Current market noise increases the probability of rate cuts, maintaining a year-end $200,000 bullish target

On March 12, according to TheBlock, Geoff Kendrick, the digital asset research director of Standard Chartered Bank, believes that the BTC dip is driven by the overall market sentiment rather than "issues with BTC itself", and still maintains a bullish target of $200,000 for BTC by the end of the year. The recovery may depend on two major catalysts: a rebound in risk assets or Favourable Information brought by sovereign countries such as the United States buying BTC. Regarding risk assets, Kendrick believes that it is necessary for tariff policies to be clarified or for the Fed to quickly shift to easing. "If the probability of a rate cut at the May meeting increases from the current 50% to 75%, it may trigger a rebound." In a bearish scenario, he warns that if it falls below $76,500, BTC may quickly test the support level of $69,000. However, he reiterated his long-term bullish view, expecting it to reach $200,000 by the end of 2025. "Short-term Fluctuation does not affect the $200,000 target. Current noise actually increases the probability of a rate cut, strengthening long-term confidence."