Standard Chartered’s digital assets researcher Geoff Kendrick believes that Bitcoin could drop to as low as $88,700. He believes that the catalyst for Bitcoin’s recent price decline was a post Bessent announcement for Treasury reduction in U.S. Treasury term premium. Kendrick added that in the short term, Bitcoin’s rally could slow as one of Bitcoin’s core uses is to hedge against traditional finance issues. However, it will continue to rise in the long-term, noted Kendrick and predicted that Bitcoin touching $125,000 by the end of this year and $200,000 by the end of 2025 is still very possible.
Source: https://coinpedia.org/crypto-live-news/bitcoin-could-drop-to-as-low-as-88700-standard-chartered/