Standard Chartered Bank Analyst: Current Market Noise Increases Rate Cut Probability, Maintains Year-End $200k Bullish Target

BlockBeats News, March 12th, according to TheBlock, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, believes that the Bitcoin downturn is driven by overall market sentiment rather than "issues specific to Bitcoin," and he still maintains a bullish target of $200,000 for Bitcoin by the end of the year.

The recovery may depend on two main catalysts: a rebound in risk assets overall or positive news from sovereign nations like the United States purchasing Bitcoin. Regarding risk assets, Kendrick believes that clarity on tariff policies or a swift Fed pivot to rate cuts are needed. "If the probability of a rate cut at the May meeting increases from the current 50% to 75%, it could trigger a rebound." In a bearish scenario, he warns that if Bitcoin falls below $76,500, it may quickly test the $69,000 support level. However, he reiterated his long-term bullish view, expecting Bitcoin to reach $200,000 by the end of 2025. "Short-term fluctuations do not affect the $200,000 target. Current noise actually increases the likelihood of a rate cut, strengthening long-term confidence."