Standard Chartered: Bitcoin’s recovery hinges on Fed policy shift

Standard Chartered's Geoff Kendrick attributes Bitcoin’s recent decline to broader risk asset weakness rather than crypto-specific issues. According to The Block, he maintains a $200,000 year-end BTC target, citing potential catalysts like Federal Reserve rate cuts or sovereign BTC adoption. Kendrick warns that Bitcoin could test $69,000 if the downturn continues but notes that a quicker shift toward Fed rate cuts could drive recovery. Market uncertainty is heightened by Trump’s tariff policies, while next week’s Fed decision is seen as a key test for Bitcoin’s trajectory.