Bitcoin price rose 2.49% in the last 24 hours to $67,865.57, despite recent bearish market conditions. In the last month, Bitcoin has been shed by 27% of its recent highs around the $90,000 mark, raising concerns among investors. Standard Chartered has now projected a possible drop to $50,000 in case of a further downward trend.
Ether and XRP are testing the key level of support. ETH is above $1,900 and below the psychological $2,000 level.
The world cryptocurrency market has experienced a slight recovery, with an increase of 1.54% to total market cap of 2.31 trillion. The bulls are trying to take over again, yet uncertainty still looms over the short-term crypto sentiment.
Standard Chartered Forecasts Bitcoin Drop to $50K, Ethereum to $1,400
Standard Chartered has revised its near-term outlook for cryptocurrencies, predicting further price declines before any potential recovery later this year.
Geoffrey Kendrick, head of digital assets research at the bank, believes that the current macroeconomic environment is unlikely to provide much support in the near term. He also believes that the situation might be different in case Kevin Warsh might replace the Federal Reserve Chair.
Kendrick anticipates that Bitcoin price could fall to around $50,000, while Ethereum (ETH) might dip to $1,400 in the coming months. Nonetheless, he observes these levels as potential purchasing opportunities prior to a rebound.
This is a negative shift in expectations, as the bank lowered its target on Bitcoin to $100,000 at the end of the year compared to its previous target of 150,000. Likewise, the Ether target has been lowered to $4,000, as compared to the previous amount of $7,500.
These changes are structured, with Kendrick already reducing the target of Bitcoin by a factor of three in December to less than $300,000. The report indicates that the digital assets may have a challenging couple of months, but recovery is possible later in 2026.
Investor Panic Soars as Crypto Fear and Greed Index Hits 8
The Crypto Fear and Greed Index is currently at 8, signaling extreme fear among investors. This is a big decline, indicating the current sense of uncertainty and panic in the cryptocurrency market.
The current index value indicates that there is increased concern among investors due to variable market conditions. The Crypto Fear and Greed Index went down to a record low of 5, which was a historic fall on February 6, 2026.
Bitcoin Price Struggles to Hold $65,000: What’s Next for BTC Prices?
As of the reporting, the BTC price traded at $66,277, reflecting a slight decline of 1.15% in the last 24 hours. The cryptocurrency market has undergone a negative trend in recent times, and Bitcoin has been experiencing significant fluctuations.
The Relative Strength Index (RSI) is at 38.62, which is lower than the 50-point. The MACD (Moving Average Convergence Divergence) has also negative momentum. The MACD line is lower than the signal line, which is an indicator of the continued bearish pressure in the market.
If the long-term BTC projection fails to break above the $70,000 level, it could potentially test support near $65,000. A drop below this support area may lead to further falls to the 60,000 mark.
Conversely, should the reversal go bullish, the subsequent resistance zones would be at $70,000 and above.