The banking giant Standard Chartered is making bold predictions. According to Geoffrey Kendrick, its global head of digital asset research, a drop in Bitcoin below $100,000 “seems inevitable” by the end of the weekend. A shocking scenario, but one that the analyst presents mostly as… the last buying opportunity before a lasting surge.
An expected correction after a historic peak
After reaching a record high of over $126,000 on October 6, Bitcoin is experiencing a surge in volatility. The resurgence of trade tensions between the US and China triggered a wave of massive sell-offs as of October 10.
“The market is searching for a new balance point. The question is how far it will have to drop to find it“, summarizes Kendrick. According to him, the $100,000 threshold could serve as a psychological support before a rapid rebound.
A disguised buying signal
Standard Chartered is not sounding the alarm, quite the opposite. Kendrick insists:
This pullback could be the last time Bitcoin drops below $100,000.
His analysis is based on a key indicator: the flows between gold and Bitcoin. This week, a sudden gold sell-off coincided with an intraday rebound in BTC, a phenomenon that the economist describes as “sell gold, buy bitcoin“. For him, these shifts between safe haven assets could multiply, a sign that traditional investors are gradually redirecting their capital towards digital assets.
The Fed in focus
Another element under scrutiny: global liquidity. Kendrick notes a gradual tightening of market conditions and raises a crucial question:
At what point will the Fed consider these conditions tight enough to end quantitative tightening?
A pause in QT, or even monetary easing, could reignite risk appetite and propel Bitcoin well beyond its current levels.
Solid fundamentals remain
Despite market nerves, technical indicators remain bullish. The 50-week moving average, a historical support since the beginning of 2023, continues to hold firm. It’s the same signal that had allowed Kendrick to anticipate a $100,000 Bitcoin by the end of 2024, a forecast now widely surpassed.
As BTC is trading around $108,000 (approximately -4% over 24 hours), the analyst remains confident: his year-end target remains at $200,000, with a projection of $500,000 by 2028.
“Investors must remain agile and ready to buy the dip“, he concludes. Because if Standard Chartered is right, this much-feared drop could indeed mark… Bitcoin’s last plunge to five digits.
