Why is Crypto Down Today? Bitcoin ETF Outflows Hit $410M As Standard Chartered Slashes BTC, ETH, SOL, XRP Targets
Bitcoin continues to fight for direction, as BTC USD trades near $68.7k. Bitcoin continues to remain 40-50% below its ATH, pulled down by persistent outflows from US Spot ETFs and dangerously thin liquidity. Meanwhile, banking giant Standard Chartered has officially slashed its price predictions for Bitcoin, Ethereum, XRP, and Solana. “We think ETF holders are more likely to sell for now, driving further downside pressure,” said Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research.
If you have looked at your portfolio recently and felt a sinking feeling, you aren’t alone in watching the sea of red.
Market Cap
Additionally, Harvard Management Company, the entity managing the popular university’s entire endowment) has decided not to exit crypto, but to rotate. According to a , the company reduced its Bitcoin ETF holdings by 21% a new $86.8 million position in the iShares Ethereum Trust. Notably, the Harvard Management Company had tripled down on its bitcoin bet in 2025.
Is it a clear warning for us to brace for more volatility? Could prices slide significantly lower before finding a bottom later this year?
DISCOVER:
Standard Chartered Warns Bitcoin Could Slide Toward $50,000, Ethereum Might Bottom Out Near $1,400
The bank’s revised numbers for the coming years are stark compared to previous optimism. Bitcoin’s 2026 target was cut from $150,000 to $100,000. Ethereum ‘s 2026 target was slashed from $7,500 down to $4,000. XRP was reduced from $8.00 to $2.80, a harsh reality check as during this downturn and Solana (SOL) was cut from $250 to $135.
Standard Chartered just slashed its BTC target, and it’s a major reality check.
• Target Cut: The bank dropped its 2026 forecast from $150K to $100K, warning of a possible slide to $50K first.
• On-Chain Pain: Long-term holder capitulation has hit levels not seen since…
— Crypto Fundi (@cryptofundix)
When an institution as large as Standard Chartered adjusts its outlook, the entire market tends to pay attention. Usually known for bullish predictions, their decision to cut targets signals that big money investors are feeling cautious. This isn’t just about crypto charts; it is about the bigger economic picture.
As persists, global interest rates and Federal Reserve policies are weighing heavily on risky assets. The bank’s analysts believe the current “macro backdrop” won’t provide much help to crypto prices for several months. This confirms that even institutional players expect a “clean out” period before the next leg up.
Kendrick, the bank’s Global Head of Digital Assets Research, didn’t sugarcoat the short-term outlook. Kendrick warned that Bitcoin could slide toward $50,000 and Ethereum might bottom out near $1,400. This tracks with current fears, as have already presented a challenging landscape for holders.
Standard Chartered analyst Geoffrey Kendrick’s forecast of XRP reaching $8 by end of 2026 is making the rounds again
— Zach Rector (@ZachRector7)
Kendrick notes that huge institutional investors holding Bitcoin ETFs are currently more likely to sell than buy the dip.
DISCOVER:
What This Means for Crypto Investors
The context is vital here. Standard Chartered still predicts Bitcoin could recover to hit $200,000 by 2027. The immediate future, however, requires patience and a cool head. As noted in discussions on , these steep drops often test your conviction the most right before a recovery.
Furthermore, the bank suggests the macro environment could improve around May, assuming at the Federal Reserve. While the short term looks rocky, the long-term thesis for crypto remains intact.
DISCOVER:
Key Takeaways
Citing the recent $410M in ETF outflows alone, analyst Geoff Kendrick slashed his 2026 targets, warning that BTC could test $50k and ETH could drop to $1,400 before any recovery.
The crypto market remains in a fragile state of discovery following the early-February correction.
