Key Takeaways
- Standard Chartered’s Geoff Kendrick warned that Bitcoin could briefly fall below $100,000 amid escalating U.S.-China trade tensions.
- Kendrick said the dip may be short-lived, noting that he still expects Bitcoin to hit $200,000 by the end of the year.
- The analyst cited potential Fed rate cuts and strong ETF inflows as key drivers that could fuel Bitcoin’s rebound after the current volatility.
Bitcoin could be on the verge of another major correction, according to Geoff Kendrick, head of digital asset research at Standard Chartered. The analyst has warned investors that the BTC price might briefly fall below the $100,000 threshold as rising trade frictions between Washington and Beijing weigh on global risk sentiment.
Standard Chartered’s Bitcoin Price Analysis Amid Tariff Tension
In a market note shared with clients, Kendrick said that the recent escalation in tariff threats from the United States is creating renewed downside pressure on Bitcoin and other digital assets. He noted that while any price dip could be short-lived, it would reflect heightened investor uncertainty over the trade situation between the two largest economies. Kendrick added that the current weakness may present a tactical entry point for long-term investors, as he continues to foresee new record highs before the year ends.
Bitcoin has remained under pressure in recent weeks, falling sharply from its mid-September levels after U.S. President Donald Trump announced a 100% tariff on Chinese imports. The announcement triggered a sharp market reaction, with BTC sliding to around $104,000 within days. Since then, attempts at recovery have been met with consistent selling, reflecting fragile market confidence and persistent macroeconomic tension.
Trump’s rhetoric has added to the uncertainty. The president has repeatedly stated that there is “no guarantee” of securing a trade deal with China despite his desire for fairer trade relations. On Monday, Trump warned that tariffs could rise to as high as 155% if negotiations fail to deliver results before the November deadline. He confirmed plans to meet Chinese President Xi Jinping at the upcoming APEC Summit next week, though he also hinted that the meeting might not take place.
Markets reacted swiftly to the mixed signals, with Bitcoin surrendering most of its intraday gains following his remarks. Despite the current bearish sentiment, Kendrick maintains a bullish long-term outlook. He expects Bitcoin to recover strongly once market volatility subsides and macroeconomic conditions stabilize.
Bitcoin Still Heading Towards $200K?
According to his projections, BTC could reach $200,000 before the end of the year, supported by renewed investor inflows and improving risk appetite.Kendrick also emphasized that even in a more conservative scenario, Bitcoin could still climb to $150,000, assuming moderate recovery in market sentiment.
He pointed to several potential catalysts that could reignite momentum, including further interest rate cuts by the Federal Reserve and ongoing demand for spot Bitcoin exchange-traded funds (ETFs). The analyst believes that the aftermath of the recent $19 billion liquidation wave will likely create opportunities for fresh capital to enter the market. When liquidity returns, Standard Chartered expects Bitcoin’s uptrend to resume, despite short-term disruptions driven by geopolitical and policy uncertainties.
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