- Bitcoin traded near $66,000 after falling to $65,079, its weekly low.
- Standard Chartered cut its 2026 price target to $100,000, warning of a possible $50,000 dip.
- Bitcoin remains over 45% below its October peak above $126,000.
Bitcoin hovered near the lower end of this week’s trading range on Thursday after fresh selling pressure and a downgraded outlook from Standard Chartered weighed on market sentiment.
The world’s largest cryptocurrency, Bitcoin, traded just above $66,000 at about 9:30 a.m. in Singapore after dropping as much as 4% in New York trading to $65,079, its lowest level this week. Over the past 24 hours, Bitcoin slipped roughly 1% to around $66,374, extending a volatile stretch in which several short-lived rebounds have faded.
Related: Bitcoin to $1M? Fred Krueger Cites Institutional Capital Wave
Bank Lowers 2026 Target
Standard Chartered reduced its end-2026 bitcoin forecast to $100,000, down from an earlier estimate of $150,000 and $300,000, marking the second downward revision in recent months. Analysts at the bank said prices could fall toward $50,000 before stabilizing, pointing to softer economic conditions, fewer expected U.S. interest-rate cuts and declining holdings in bitcoin exchange-traded funds.
“We expect further price capitulation in the next few months,” Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, said,
Investor exposure through ETFs has dropped significantly from late-2025 highs, with total holdings estimated to be nearly 100,000 BTC below their peak, reflecting weaker institutional demand during the market’s pullback.
Deep Pullback From Record Highs
Bitcoin remains more than 45% below its October peak above $126,000 and briefly traded near $60,000 last week. Even with the decline, roughly half of the circulating supply remains in profit, indicating that the downturn has not yet reached the extreme stress levels seen in earlier crypto market cycles.
What’s Next For Bitcoin in The Short-Term?
Experts say Bitcoin’s next move depends heavily on whether it can hold the $69,000–$72,000 price zone, which is now acting as a key support area. Earlier, the cryptocurrency lost a major technical support level near $98,000–$100,000, and a failed rebound confirmed the shift toward weaker momentum.
If Bitcoin manages to stabilize at current levels and later climbs back above $84,000, a broader recovery could begin. However, if weekly prices fall below $69,000, analysts warn the market could slide toward the mid-to-low $60,000 range before finding stronger support.
Related: Bitcoin Price Outlook 2026: What $1,000 in BTC Could Be Worth
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Source: https://coinedition.com/bitcoin-near-66k-as-bank-warns-next-stop-could-be-50k/
