Core Viewpoint - Bitcoin is currently facing challenges in breaking out of its recent trading range, with a significant price adjustment in long-term forecasts by Standard Chartered [1][2]. Group 1: Bitcoin Price Projections - Standard Chartered has revised its Bitcoin price target to $100,000 by the end of 2025, down from a previous forecast of $200,000 [2]. - The long-term target remains at $500,000, but the timeline has been pushed from 2028 to 2030 [2]. Group 2: Market Dynamics - The downgrade in Bitcoin price expectations is attributed to a recalibration of demand, influenced by weaker ETF inflows and reduced corporate accumulation [2][3]. - Aggressive buying by firms like MicroStrategy is considered to have peaked, with future price increases expected to be driven primarily by ETF buying [3]. Group 3: ETF Inflows - ETF inflows have significantly slowed, with only about 50,000 BTC entering funds this quarter, marking the weakest level since the launch of U.S. spot Bitcoin ETFs earlier this year [3]. Group 4: Political and Economic Influences - Rising political pressure on the U.S. Federal Reserve may impact risk assets like Bitcoin, with expectations of a potential rate cut of 0.25% on December 10 [4]. - The possible appointment of Kevin Hassett as Federal Reserve chair could lead to a policy shift towards easing, potentially increasing demand for Bitcoin as an inflation hedge [5].
170-year-old bank slashes Bitcoin price prediction by half