A series of negative indicators are emerging in the cryptocurrency market, with Standard Chartered reducing its bitcoin price target and Coinbase Global receiving a ‘sell’ rating. This comes as momentum traders face challenges in driving bitcoin back towards its previous highs.

Standard Chartered has revised its year-end 2026 bitcoin forecast downwards to $US100,000, a significant drop from the earlier $US150,000 and $US300,000 projections. The bank cautioned that the cryptocurrency could potentially fall to $US50,000 before stabilising, citing weakening price momentum and a challenging macroeconomic environment. Bitcoin experienced another decline, falling as much as 3.6 per cent to $US65,326.

Concurrently, Monness, Crespi,…