itcoin is at risk of deeper losses as risk appetite fades and macro pressure builds, according to Standard Chartered’s head of digital assets research Geoff Kendrick.

In a note reported on by Bloomberg, Kendrick said weaker U.S. economic momentum and reduced expectations for Federal Reserve rate cuts have weighed on crypto markets. He added that falling digital-asset ETF holdings have removed a key source of demand.

Kendrick warned bitcoin could drop to $50,000 and Ethereum could fall toward $1,400 before stabilizing later in the year. BTC trades near $67,869 after reaching a 16-month low of $60,008 last week.

Standard Chartered cut its year-end bitcoin forecast by a third,…

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