 ▲ Bitcoin (BTC) |
Bitcoin (BTC) has entered a final correction phase toward the $50,000 level, a move seen as inducing capitulation among investors ahead of a year-end rally.
According to crypto-focused outlet NewsBTC on March 11 (local time), Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, projected that Bitcoin could decline to $50,000 in the short term before staging a strong rebound. Kendrick analyzed that the current price drop is more closely tied to a broader decline in tech stocks driven by macroeconomic conditions rather than structural flaws within the crypto market itself. He added that Ethereum (ETH) could also fall to as low as $1,400 in tandem with Bitcoin’s correction.
The primary factors driving the downturn include mounting fatigue among spot ETF investors and delays in interest rate cuts by the U.S. Federal Reserve. Bitcoin spot ETF holdings have decreased by approximately 100,000 BTC compared to their peak in October 2025, and investors whose average purchase price is around $90,000 are currently facing losses. Kendrick noted that investors are more likely to sell out of fear of further declines rather than buy the dip, which could accelerate the final phase of price correction.
While lowering his short-term price targets, Kendrick maintained his optimistic outlook through the end of 2026. Bitcoin’s year-end target was revised from $150,000 to $100,000, while Ethereum’s was adjusted from $7,500 to $4,000. However, he emphasized that the current downturn represents a healthy process of removing excess froth from the market, forecasting a strong rebound in the second half of 2026 once a bottom is confirmed.
In the long term, Bitcoin’s scarcity and continued institutional capital inflows are expected to serve as key drivers of price appreciation. Kendrick upheld his long-term projection that Bitcoin will reach $500,000 by 2030, while Solana (SOL) could rise to $2,000. He also forecast that the stablecoin and tokenized real-world asset markets will each expand to $2 trillion between 2028 and 2030.
The digital asset market is currently undergoing a period that tests investor patience amid macroeconomic uncertainty and weakened sentiment. Experts view the $50,000 level as both the final support and a strategic accumulation opportunity, stressing that a true bull market will only resume after market leverage is sufficiently flushed out. If Bitcoin firmly establishes a bottom near $50,000, it could build a solid foundation for a breakthrough above $100,000 by year-end.
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