Bowing to what he called a "cold breeze," but not a "crypto winter," Geoff Kendrick slashed his year-end outlook for BTC to $100,000 and doesn't expect $500,000 until 2030 versus 2028 previously.
Standard Chartered’s Geoffrey Kendrick says bitcoin’s steep decline is part of a recurring pattern, with a rebound into year-end in his base case.
The bank’s collaboration with DCS aims to enable stablecoin spending through DeCard, blending digital assets with traditional finance.
Bitcoin was managing a modest bounce early Wednesday following yesterday's tumble below $100,000.
The bank said the 2025 stablecoin boom is fueling a self-sustaining wave of DeFi growth, and it forecasted $2 trillion in tokenized real-world assets by 2028.
Ethereum’s bullish momentum has intensified throughout the weekend, with the price climbing above $4,100. This steady recovery follows a strong rebound from the $3,500 region after a crash earlier in the month. Investor sentiment, as shown by trading volume and flows on exchanges, has turned optimistic amidst the recovery. Now that Ethereum’s price action is starting to turn bullish again, a new technical analysis shared by crypto analyst Freedomby40 on the social media platform X suggests that the current rally could be far from over, projecting a possible long-term climb to $16,000. Wave Count Structure Points To A Continuation Phase Freedomby40’s analysis, which is based on the Elliott Wave structure, presents Ethereum as currently positioned in an extended bullish sequence that began forming in late 2022. Posting the technical analysis on X, the analyst noted that Ethereum’s price action looks great for a continuation. Related Reading: Here’s What Happens To The Ethereum Price If Bullish Momentum Holds His chart shows that the asset has just completed a corrective phase and is entering a renewed impulse wave, with support established between $3,225 and $3,563 at the 0.5 and 0.382 Fibonacci retracement zones, respectively. The analyst labels this zone as the ideal accumulation area for the next leg up, consistent with previous cycle structures seen in 2017 and 2021. The Elliott Wave projection in his analysis presents a multi-layered confluence of impulse waves extending to the third degree. It illustrates that Ethereum is currently unfolding its fifth major impulse wave in a structure that traces back to mid-2022. The internal structure of this wave sequence also reveals a C wave in motion, which itself contains smaller sub-impulse waves. Within that C wave, Ethereum appears to be entering its own fifth sub-wave, which is known to be a decisively bullish wave. Based on this setup, the analyst outlined two potential target zones on the chart: a green box representing the realistic price range for this wave cycle and a red box depicting the higher, more extended scenario that could push Ethereum’s market cap into the trillion-dollar level. Fibonacci Extensions Predict Targets Of $9,000, $11,000, And $16,000 Freedomby40’s analysis identifies multiple price levels based on Fibonacci extensions from the current price action. The first price target is at $6,303, which is based on the 1.0 Fibonacci extension. This initial price target will see the Ethereum price break above its current all-time high, but this is the first of many. Related Reading: Institutions Exit Bitcoin In Large Tranches, Ethereum, Solana And XRP See Massive Buy-Ins The next target, the 1.236 extension, is positioned around $9,013. These two price targets ($6,303 and $9,013) were described by the analyst as very realistic. Possible extensions are at the 1.382 and 1.618 Fibonacci extension levels, corresponding to $11,210 and $16,077, respectively. At the time of writing, Ethereum is trading at $4,160, up by 5.2% in the past 24 hours. Freedomby40’s outlook joins a growing list of ultra-bullish Ethereum price forecasts from institutional research desks and top analysts. Standard Chartered Bank recently raised its 2025 price target for Ethereum to $7,500, while projecting a potential long-term path to $25,000 by 2028. Featured image from iStock, chart from Tradingview.com
ETF investors shifting from gold to bitcoin could accelerate the rally into year-end, with BTC potentially hitting $200,000, lead analyst Geoff Kendrick said.
New product offers stablecoin users regulated yields while linking DeFi strategies with traditional finance.
The strongest DATs will be those with cheap funding, scale, and staking yield, which favors ether and solana treasuries over bitcoin, analyst Geoff Kendrick said.
The joint venture, known as Anchorpoint, also includes Hong Kong Telecom and aims to build a business model for the issuance of licensed stablecoins.
Corporate treasuries have bought 1% of all ether in circulation since the beginning of June, the report said.
The Series A funding round was led by Pharsalus Capital and included contributions from Circle Ventures, The Operating Group and XVC Tech
Bullish catalysts include sustained ETF inflows, corporate treasury adoption and U.S. regulatory moves, the report said.
The next phase of real-world asset tokenization will go beyond stablecoins, targeting private markets and illiquid assets, the report said.
Sixty-one corporate treasuries now hold a combined 3.2% of the total bitcoin supply.
The bank said it expects solana to underperform ether over the next two to three years, in a report initiating coverage of the cryptocurrency.
Holdings of the stock by government bodies reflects a desire to gain bitcoin exposure where in some cases local regulators do not allow direct ownership, the report said.
Spot bitcoin ETF net inflows totaled over $4 billion in the last three weeks, when adjusted for hedge fund basis trades, the bank said.
The token has traded like an unweighted mix of bitcoin and ether since May 2021, the report said.
Strategic allocation away from U.S. assets is likely to be the catalyst for move to a new record.
XRP is uniquely positioned at the heart of of cross-border payments, the report said.
Bitcoin could be viewed as serving multiple purposes in a tech portfolio, paving the way for more institutional buying, the bank's digital asset research head said.
Layer 2 blockchains were meant to improve scalability on the Ethereum network, but Coinbase's Base has reduced ether's market cap by $50 billion, the report said.
Overzealous hopes for Trump's crypto actions last week had primed the market for a pullback, but the decline could be already over, said Standard Chartered's Geoff Kendrick.
A Wall Street forecast may be overshooting the amount of money that could flow into tokenized real-world assets by 2030, says one analyst.
Mox, a virtual bank subsidiary of Standard Chartered, has started offering bitcoin and ether exchange-traded funds to its clients shortly after launching an investment platform in Hong Kong.
The British bank predicts that the SEC will eventually treat spot ether ETF applications similarly to bitcoin ETFs, putting May 23 as the expected date for an approval.