Standard Chartered Analyst Warns: Bitcoin May Dip Below $100,000 This Weekend A notable warning has emerged from Standard Chartered Bank, with its global head of digital assets research, Geoff Kendrick, predicting an "inevitable" drop in Bitcoin's price below the $100,000 mark by the end of this week. This short-term bearish outlook, delivered in a client note, suggests that such a dip could represent the "last-ever chance" for investors to acquire Bitcoin at a six-figure price point.
The Inevitable Dip and Macro Thesis
Kendrick’s immediate caution arrives despite Standard Chartered maintaining a robust long-term bullish stance on Bitcoin. The bank had previously projected a target of $200,000 for BTC by year-end, citing strong demand from Exchange Traded Funds (ETFs), increased corporate treasury adoption, and a more favorable policy environment as primary drivers. However, the current market dynamics are prompting a recalibration for the near future, as the market continues to digest an early October sell-off and a subsequent lukewarm bounce.
Market Signals and Strategic Opportunities
The analyst highlights several critical indicators contributing to this near-term pressure. He notes Bitcoin's recent failure to sustain above its local high, pointing to a risk-off break earlier in October and a lack of a strong reflexive rally. This shifts the bank's focus towards identifying market bottoms rather than immediate trend resumption. Key factors under observation include capital rotation between gold and Bitcoin, and the overarching trajectory of US dollar liquidity and quantitative tightening measures. Despite these immediate concerns, Kendrick underscores Bitcoin's consistent respect for its 50-week moving average since early 2023, framing it as a crucial long-duration support level. He reiterates that the bank's broader bullish cycle map, driven by ETF inflows, corporate adoption, and regulatory normalization, remains fundamentally intact, positioning any sub-$100,000 dip as a strategic, perhaps final, buying opportunity for long-term investors. As of press time, Bitcoin is trading around $109,953, illustrating the immediate relevance of Kendrick's forecast amidst a market that has seen roughly a ten percent decline over the past two weeks. The confluence of liquidity concerns and macro sensitivity to policy headlines further elevates the significance of this potential price movement.
