Standard Chartered Predicts Bitcoin Drop Below $100K Even as Global M2 Growth Turns Bullish

Global macro signals are flashing both warning and opportunity for Bitcoin (BTC). On one hand, major bank Standard Chartered PLC has flagged the potential for Bitcoin to dip below $100,000 in the near term.

On the other hand, significant growth in global M2 money supply strengthens the backdrop for a longer-term upside.

Short-Term Correction Predicted as Trade & Liquidity Risks Mount

According to head of digital asset research Geoff Kendrick at Standard Chartered, Bitcoin could briefly fall under the $100,000 mark amid intensifying global risks, particularly the escalating U.S.–China trade tensions.

Although he deems the drop as temporary, Kendrick frames it as a “buying opportunity,” asserting this may be “the last time Bitcoin is EVER below” $100,000. He further points to shifts in capital flows, notably from gold into Bitcoin, as signs of rotation and deeper structural appeal.

Technical indicators such as the 50-week moving average are cited as meaningful support zones, adding credence to his view that the correction may be short-lived.

Bullish Macro Backdrop: M2 Growth & Institutional Flows Intact

Despite the caution in the short run, the macro landscape offers supportive themes. Analysts note that global M2 money supply growth accounts for a significant portion of Bitcoin’s historical price variance, highlighting the asset’s evolving role beyond speculative crypto.

As central banks continue to inject liquidity, Bitcoin’s correlation with broader money-supply trends reinforces its potential as a hedge or portfolio diversifier rather than purely a speculative vehicle.

Furthermore, institutional interest and on-chain activity remain elevated, underscoring that this pull-back could be a healthy mid-cycle reset rather than a structural reversal.

What This Means for Bitcoin (BTC) Investors

In practical terms, investors should brace for potential near-term downside around or below $100,000 while keeping an eye on key support levels and macro catalysts. Kend­rick maintains his bullish target of $200,000 by year-end and even $500,000 by 2028, suggesting that the current dip could represent a long-term entry point.

At the same time, the market remains exposed to trade-war developments, Fed policy surprises, and liquidity shocks, factors that could trigger more substantial movement. A dip below $100K may feel ominous, but for some strategists, it could be the last major shopping window before the next leg higher.

Cover image from ChatGPT, BTCUSD on Tradingview