Standard Chartered Capitulates After $410 Million Bitcoin ETF Outflow, Says $50,000 Is Coming

▲ Bitcoin (BTC) ETF

Approximately $410 million flowed out of spot Bitcoin (BTC) ETFs in a single day, while global banking giant Standard Chartered sharply lowered its year-end price targets for Bitcoin and Ethereum, warning of further downside risk.

According to Cointelegraph on Feb. 13 (local time), about $410 million in net outflows were recorded in the U.S. spot Bitcoin ETF market, intensifying downward pressure. As Bitcoin fell below the $66,000 level, institutional investors pulled funds for risk management purposes, marking the largest outflow since May 2024.

Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, lowered his end-2026 price target for Bitcoin from $150,000 to $100,000. Kendrick also significantly cut Ethereum’s year-end target from $7,500 to $4,000. He projected that further pain lies ahead in the coming months, along with a final capitulation phase in virtual asset prices.

Kendrick said Bitcoin could fall to the $50,000 level before beginning a rebound, while Ethereum may find its bottom near $1,400. He noted that the current price correction aligns with a roughly 25% decline in spot Bitcoin ETF holdings compared with the peak in October 2025. Spot Bitcoin ETF holdings have decreased by approximately 100,000 BTC from their high last October.

Key factors weighing on the virtual asset market include leadership uncertainty at the Federal Reserve and deteriorating macroeconomic conditions. Kendrick assessed that the current sell-off is unfolding in a more orderly manner than previous crashes, with network usage remaining healthy. He added that the market is likely to enter a full-fledged recovery path in the second half of the year.

Amid rising volatility in the virtual asset market, Bitcoin appears set to test its psychological support level at $60,000. Investors are closely watching whether the market stabilizes following the large-scale outflows, while also monitoring the Federal Reserve’s policy direction and formulating cautious response strategies.

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