Bitcoin may drop as low as $88,700: Standard Chartered

Geoff Kendrick, analyst at Standard Chartered Digital Assets, believes Bitcoin could fall to $88,700. He believes that the catalyst for Bitcoin's recent price decline was the post-Bessent announcement of a Treasury cut in the US Treasury term premium. Kendrick added that in the short-term, Bitcoin's rally may slow down because one of Bitcoin's main uses is its opposition to traditional finance. However, it will continue to increase in the long term, Kendrick explained and predicted that Bitcoin touching $ 125,000 at the end of this year and $ 200,000 at the end of 2025 is still very possible.