Standard Chartered Bank: The decline of Bitcoin is due to the weakness of the US stock market, and two catalysts help Bitcoin to reach 200,000 US dollars by the end of the year.
Standard Chartered Bank analyst Geoff Kendrick stated that the recent decline in BTC is related to the overall weakness in the risk asset market, rather than its own fundamental issues. He pointed out that after the volatility adjustment, BTC's performance is relatively stable compared to the seven giants of the US stock market. (Summary: Standard Chartered Bank: BTC may test the key support level of 69,000 to 76,500 USD in the short term) (Background: BTC surpassed 83,000 USD》Ukraine agreed to a 30-day ceasefire, Trump called off the 50% retaliatory tariff on Canadian steel and aluminum) Against the background of Ukraine announcing a 30-day ceasefire plan today and the US temporarily suspending the 50% tariff on Canadian steel and aluminum products, BTC has rebounded from around 79,000 USD to the level of 83,000 USD before the deadline, with a cumulative increase of about 5% in the past 24 hours. The overall weakness of risk assets dragging down BTC is consistent with the relationship tied to the overall economy and BTC depth, as analyzed by Standard Chartered Bank analyst Geoff Kendrick. He pointed out that the recent price trend of BTC is closely related to the broader weakness of the risk asset market, rather than issues inherent to cryptocurrencies. The decline in BTC is mainly influenced by market sentiment as a whole, rather than "internal issues of BTC itself." He further stated that after the volatility adjustment, BTC's performance within the "seven giants of the US stock market + BTC" group is relatively stable, indicating that BTC did not actually experience a significant decline: After the volatility adjustment, TSL performed the worst, while Meta and Apple were the strongest, and other assets were comparable to BTC. Potential reasons for driving the rise Kendrick pointed out that BTC's rebound may come from two catalysts: Recovery of the risk asset market Olumlu Bilgiler of BTC itself, such as official purchases by the US or other countries In terms of risk assets, he believes that if the Fed accelerates the pace of interest rate cuts or Trump's tariff policy becomes clear, it will help the market recover. If the probability of a rate cut in May increases from the current 50% to 75%, the market may experience a rebound. However, if the market continues to be weak, and BTC falls below 76,500 USD, it may further test the support level of 69,000 USD. Nevertheless, Kendrick still maintains a long-term bullish target, predicting that BTC will reach 200,000 USD by the end of 2025. "Short-term volatility does not affect my confidence in the $200,000 target, but rather makes it more likely for the Fed to cut interest rates, further strengthening my long-term bullish view," emphasized Kendrick. The probability of the Fed not cutting rates next week is as high as 96% The Federal Reserve will make a decision on interest rates next Wednesday (19th), and Federal Reserve Board member Adriana Kugler believes that the Central Bank should maintain the current interest rate level based on concerns about ongoing inflation. However, Rohit Jain, Managing Director of CoinDCX Ventures, believes that if the Fed does not cut rates, it may dampen risk asset sentiment, further affecting the cryptocurrency market. "This hesitation about rate cuts may trigger further dumping, and BTC may test the support of 70,000 USD, while altcoins like Ethereum and Solana will also be affected." Currently, according to the CME FedWatch tool, the probability of the Fed maintaining interest rates unchanged is as high as 96%, with only a 4% probability of a 1-point rate cut, and the market generally expects no rate cut in March. Related reports BTC surpassed 83,000 USD》Ukraine agreed to a 30-day ceasefire, Trump called off the 50% retaliatory tariff on Canadian steel and aluminum Arthur Hayes: BTC will bottom out at 70,000 USD! Wait for the US stock market crash and Fed rate cuts to "increase positions" From market sentiment, technical trends, and on-chain data analysis, has BTC reached its bottom? This article was first published on BlockTempo, the most influential blockchain news media in the field.
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Standard Chartered Bank: The decline of Bitcoin is due to the weakness of the US stock market, and two catalysts help Bitcoin to reach 200,000 US dollars by the end of the year.
Standard Chartered Bank analyst Geoff Kendrick stated that the recent decline in BTC is related to the overall weakness in the risk asset market, rather than its own fundamental issues. He pointed out that after the volatility adjustment, BTC's performance is relatively stable compared to the seven giants of the US stock market. (Summary: Standard Chartered Bank: BTC may test the key support level of 69,000 to 76,500 USD in the short term) (Background: BTC surpassed 83,000 USD》Ukraine agreed to a 30-day ceasefire, Trump called off the 50% retaliatory tariff on Canadian steel and aluminum) Against the background of Ukraine announcing a 30-day ceasefire plan today and the US temporarily suspending the 50% tariff on Canadian steel and aluminum products, BTC has rebounded from around 79,000 USD to the level of 83,000 USD before the deadline, with a cumulative increase of about 5% in the past 24 hours. The overall weakness of risk assets dragging down BTC is consistent with the relationship tied to the overall economy and BTC depth, as analyzed by Standard Chartered Bank analyst Geoff Kendrick. He pointed out that the recent price trend of BTC is closely related to the broader weakness of the risk asset market, rather than issues inherent to cryptocurrencies. The decline in BTC is mainly influenced by market sentiment as a whole, rather than "internal issues of BTC itself." He further stated that after the volatility adjustment, BTC's performance within the "seven giants of the US stock market + BTC" group is relatively stable, indicating that BTC did not actually experience a significant decline: After the volatility adjustment, TSL performed the worst, while Meta and Apple were the strongest, and other assets were comparable to BTC. Potential reasons for driving the rise Kendrick pointed out that BTC's rebound may come from two catalysts: Recovery of the risk asset market Olumlu Bilgiler of BTC itself, such as official purchases by the US or other countries In terms of risk assets, he believes that if the Fed accelerates the pace of interest rate cuts or Trump's tariff policy becomes clear, it will help the market recover. If the probability of a rate cut in May increases from the current 50% to 75%, the market may experience a rebound. However, if the market continues to be weak, and BTC falls below 76,500 USD, it may further test the support level of 69,000 USD. Nevertheless, Kendrick still maintains a long-term bullish target, predicting that BTC will reach 200,000 USD by the end of 2025. "Short-term volatility does not affect my confidence in the $200,000 target, but rather makes it more likely for the Fed to cut interest rates, further strengthening my long-term bullish view," emphasized Kendrick. The probability of the Fed not cutting rates next week is as high as 96% The Federal Reserve will make a decision on interest rates next Wednesday (19th), and Federal Reserve Board member Adriana Kugler believes that the Central Bank should maintain the current interest rate level based on concerns about ongoing inflation. However, Rohit Jain, Managing Director of CoinDCX Ventures, believes that if the Fed does not cut rates, it may dampen risk asset sentiment, further affecting the cryptocurrency market. "This hesitation about rate cuts may trigger further dumping, and BTC may test the support of 70,000 USD, while altcoins like Ethereum and Solana will also be affected." Currently, according to the CME FedWatch tool, the probability of the Fed maintaining interest rates unchanged is as high as 96%, with only a 4% probability of a 1-point rate cut, and the market generally expects no rate cut in March. Related reports BTC surpassed 83,000 USD》Ukraine agreed to a 30-day ceasefire, Trump called off the 50% retaliatory tariff on Canadian steel and aluminum Arthur Hayes: BTC will bottom out at 70,000 USD! Wait for the US stock market crash and Fed rate cuts to "increase positions" From market sentiment, technical trends, and on-chain data analysis, has BTC reached its bottom? This article was first published on BlockTempo, the most influential blockchain news media in the field.