Standard Chartered Bank analyst: Current market noise increases the probability of interest rate cuts, maintaining a bullish target of $200000 by the end of the year

According to BlockBeats, on March 12th, according to TheBlock, Geoff Kendrick, head of digital asset research at Standard Chartered Bank, believes that the decline in Bitcoin is driven by overall market sentiment rather than "Bitcoin's own problems", and still maintains Bitcoin's bullish target of $200000 by the end of the year. Recovery depends on two major catalysts: the overall rebound of risk assets or the positive impact of sovereign countries such as the United States purchasing Bitcoin. Regarding risk assets, Kendrick believes that tariff policies need to be clarified or the Federal Reserve needs to quickly shift towards interest rate cuts. If the probability of a rate cut at the May meeting increases from the current 50% to 75%, it may trigger a rebound. In a bearish scenario, he warned that if Bitcoin falls below $76500, it may quickly drop to the support level of $69000. But he reiterated his long-term bullish outlook, expecting to reach $200000 by the end of 2025. Short term fluctuations do not undermine the $200000 target. The current noise actually increases the probability of interest rate cuts and strengthens long-term confidence