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end of 2025, down from a previous target of $200,000, according to a Tuesday report. While its long-term outlook remains at $500,000, the timeline has been pushed back from 2028 to 2030.Bitcoin is currently stuck in a tight range with no catalysts to push it higher. The top crypto is trading at $90,600, down 1.3% over the past 24 hours, according to CoinGecko data.The bank’s downgrade stems from a recalibration of demand expectations, with Standard Chartered analyst Geoffrey Kendrick citing the end of a major demand source and a slower-than-expected pace of institutional adoption via exchange-traded funds as prompting the recalibration.Kendrick asserts that aggressive corporate buying by digital asset treasuries like MicroStrategy has “run its course,” adding that “future Bitcoin price increases will effectively be driven by one leg only – ETF buying.”As a result, the market is now reliant on periodic ETF inflows—which have slowed dramatically, with the current quarterly inflow of 50,000 BTC marking the lowest since U.S. spot Bitcoin ETFs launched.Bitcoin Slips Toward ETF Break-Even Level as Inflows Slow, but Support May Be BuildingCompared to the 450,000 BTC purchased per quarter in late 2024 from both ETFs and DATs, the number has declined sharply.Additionally, the report highlights political pressure on the Federal Reserve, which is influencing the risk-on asset class.While investors are bullish on an expected quarter-point rate cut in tomorrow’s interest rate decision, the outlook is largely dependent on the Fed Chairman’s guidance for next year, experts previously told Decrypt.The appointment of Kevin Hassett to the FOMC could encourage easier monetary policy, potentially driving investors toward “hard” assets like Bitcoin as a hedge. On prediction market Myriad, owned by Decrypt’s parent company Dastan, a clear majority of users expect Hassett to be nominated as Fed chair before March 2026.“This time really is different,” Kendrick wrote, explicitly rejecting old halving-cycle models. “We think crypto winters are a thing of the past.”Mirroring the bank’s view, Myriad users have assigned just a 6% chance that the crypto sector slips into a crypto winter by the end of February 2026.Though Bitcoin has retested $90,000 multiple times over the past two weeks, the near-term outlook largely hinges on the outcome of Wednesday’s FOMC meeting, analysts previously told Decrypt.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,860.50 +4.75 (+0.07%)Dow Futures47,815.00 +22.00 (+0.05%)Nasdaq Futures25,668.25 +4.25 (+0.02%)Russell 2000 Futures2,526.70 +1.60 (+0.06%)VIX16.86 +0.20 (+1.20%)Gold4,234.10 +16.40 (+0.39%)Trending tickersNVDA NVIDIA Corporation 185.55 +3.14 (+1.72%)WVE Wave Life Sciences Ltd. 18.52 +11.03 (+147.26%)XCUR Exicure, Inc. 5.33 +0.18 (+3.50%)PSKY Paramount Skydance Corporation 14.57 +1.20 (+9.02%)VOR Vor Biopharma Inc. 8.36 +0.18 (+2.20%)PortfolioSign in to access your portfolioSign inTop gainersWVE Wave Life Sciences Ltd. 18.52 +11.03 (+147.26%)GPCR Structure Therapeutics Inc. 69.98 +35.42 (+102.49%)KYMR Kymera Therapeutics, Inc. 94.30 +27.68 (+41.55%)OCUL Ocular Therapeutix, Inc. 16.11 +3.53 (+28.06%)WRBY Warby Parker Inc. 21.26 +2.49 (+13.27%)Top losersPSNYW Polestar Automotive Holding UK PLC 0.2037 -0.0213 (-9.47%)APD Air Products and Chemicals, Inc. 236.05 -24.64 (-9.45%)CRK Comstock Resources, Inc. 24.80 -2.57 (-9.39%)LAZ Lazard, Inc. 50.66 -4.09 (-7.47%)HL Hecla Mining Company 15.85 -1.12 (-6.60%)Most activeHBI HanesBrands Inc. 6.47 0.00 (0.00%)BBAI BigBear.ai Holdings, Inc. 6.56 -0.26 (-3.81%)BBD Banco Bradesco S.A. 3.3400 +0.0300 (+0.91%)AAL American Airlines Group Inc. 14.86 +0.05 (+0.34%)PFE Pfizer Inc. 25.77 -0.26 (-1.00%)Top economic eventsEarnings eventsMy earnings eventsEarnings events