The cryptocurrency market faced a significant downturn on October 11th, 2025, triggered by statements from US President Donald Trump regarding tariffs on China, leading to the largest liquidation event in crypto history with $19 billion in forced liquidations. Bitcoin's price plummeted to $104,000, marking its lowest level in four months.
Despite this historic crash, Standard Chartered analysts, led by Geoff Kendrick, Head of Digital Asset Research, maintain a bullish outlook. Kendrick reiterated that Bitcoin could reach $200,000 by the end of 2025, emphasizing that the sell-off may present a buying opportunity once market volatility subsides in the coming weeks. He described the crash as a temporary shock and expressed confidence in Bitcoin's recovery as stability returns.
Key drivers for this forecast include inflows into Bitcoin exchange-traded funds (ETFs), which recorded $477 million in net inflows after brief politically-driven outflows, and anticipated Federal Reserve interest rate cuts. Kendrick noted that even under conservative assumptions, with Fed rate cuts, Bitcoin could still achieve at least $150,000 by year-end. He linked Bitcoin's potential to gold's performance, suggesting both assets benefit from macroeconomic uncertainty.
Looking further ahead, Kendrick reaffirmed a long-term projection of $500,000 for Bitcoin by 2028, contingent on sustained institutional interest, ETF expansion, and stable regulatory conditions. Overall, Standard Chartered views the recent crash as a potential catalyst for renewed investor interest, supporting a positive trajectory for Bitcoin.
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