How Long Will the Bitcoin (BTC) Price Decline Last? Standard Chartered Warns For This Level!

The leading cryptocurrency Bitcoin (BTC) faced a selling wave since yesterday evening and dropped below 89,000 dollars.

Altcoins saw bigger losses while Ethereum (ETH) 9.5%; Solana (SOL)*** is down 12.4%. The overall crypto market, on the other hand, is down 7.4% in the last 24 hours.

The reason for the decline in Bitcoin is attributed to the market uncertainty and the announcement of US President Donald Trump's plans to impose customs duties on Canada and Mexico.

While investors are wondering if the decline will continue and when the rise will start again, Geoffrey Kendrick***, Global Head of Digital Assets Research at S****tandard Chartered, made important statements.

Kendrick noted that the risk-averse sentiment that emerges in traditional markets is also impacting Bitcoin and the cryptocurrency industry.

"Bitcoin has been caught in a broader wave of selling, driven by Solana-based memecoins and the overall market bearish trend.

However, Bitcoin is still trading relatively well within the cryptocurrency sector."

Before the Recovery in Bitcoin, These Levels Can Be Seen!

Although the outlook for Bitcoin and cryptocurrencies is negative in the short term, Kendrick stated that he foresees a recovery in the medium term.

Despite the current decline, lower U.S. Treasury yields could support Bitcoin in the medium term, according to the analyst.

Kendrick, who also opened a parenthesis for the recovery expectation, also warned that Bitcoin could drop to $80,000 before a recovery.

As Bitcoin and cryptocurrencies struggle to combat the decline, the US personal consumer expenditures price index data, which the Federal Reserve is closely watching to gauge inflation and make its interest rate decision, will be released on Friday.

Kronos Research Analyst Dominick John said, "After the data to be announced on Friday, inflation in the US seems to be falling close to the Fed's 2% target, and if the rates weaken, an upward trend may emerge in the medium term."