According to a new analysis from Standard Chartered, the cryptocurrency market should brace for further turbulence. The British bank has once again downgraded its short-term outlook for digital assets and warned investors of an approaching “final capitulation phase.”
Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, paints a bleak picture for the coming months in his latest report. In his view, the macroeconomic environment is unlikely to provide meaningful support until leadership changes take place at the top of the U.S. Federal Reserve.
Specifically, Kendrick forecasts that Bitcoin could fall to $50,000 or slightly below. For Ethereum, the leading smart contract platform, the bank expects prices to drop to around $1,400. Kendrick explicitly defines these levels as strategic “buy levels” for long-term investors.
Investors may treat the renewed warning with some skepticism, as Kendrick’s recent track record has been marked by significant volatility. His October 2025 assumption that Bitcoin had definitively formed a bottom at $100,000 proved premature. Similarly, his January forecast that Ethereum would outperform Bitcoin and rise to $7,500 by 2026 did not materialize.
Despite the current bearish stance, the bank maintains a broadly optimistic outlook for the end of the year. Under its updated forecast, Bitcoin is expected to finish the year at $100,000, while Ether is projected to rise to $4,000.
However, even these targets represent a downgrade. The previous price target for Bitcoin stood at $150,000 — a level Kendrick had already cut in December from an initial $300,000. The Ethereum forecast has also been significantly reduced from its former $7,500 target.
Beyond the two market leaders, Standard Chartered has sharply lowered its expectations for several major altcoins through the end of 2026. Solana is now seen at $135 (previously $250), XRP at $2.80 (previously $8.00), and Binance Coin (BNB) at $1,050 (previously $1,755).
According to Kendrick, the adjustments to altcoin price targets primarily reflect mark-to-market corrections aimed at realigning their performance with the relative movements of Bitcoin and Ethereum.
