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Bitcoin’s correction may not be finished, with Standard Chartered warning that the cryptocurrency could slide toward $50,000 before any meaningful rebound. At the same time, Bitcoin futures open interest has fallen to roughly $31 billion to $35 billion, signaling deleveraging and bringing the $60,000 level back into focus.
In a note to clients, Standard Chartered said Bitcoin’s price could fall further as the market has not completed its correction. The bank expects additional downside pressure in the short term.
Its near-term forecast calls for Bitcoin to drop toward around $50,000 over the coming months as part of the ongoing correction. For Ethereum, Standard Chartered expects a move down toward about $1,400 before recovery takes hold.
Standard Chartered also revised its year-end targets downward. The bank now projects Bitcoin could finish 2026 around $100,000, down from an earlier forecast of $150,000 and well below prior estimates above $300,000.
The bank attributed the lower projections to weakening investor demand and broader economic pressures. It also noted that selling pressure from holders could persist before any sustained upside emerges.
Separately, Bitcoin futures traders have pulled back sharply. Aggregate open interest slid to about $31 billion to $35 billion in late January, according to a Coinglass chart, the lowest level since the period around November 2024.
The chart shows open interest rising from roughly $31.44 billion in October 2024 to above $60 billion by November and December. It then eased into the low $40 billions by late February and March 2025, before rebuilding through spring and early summer into the mid $60 billions. Open interest later peaked near the mid $70 billions around early October 2025.
After that peak, open interest trended lower for months, falling through November and December 2025. It hovered in the mid $40 billions into early January, then dropped steeply into late January toward the chart’s lower bound near $31.44 billion.
Lower open interest often indicates traders have closed positions or reduced leverage. That can thin liquidity and affect how price responds to new flows, potentially allowing spot declines to reach major chart levels faster. In this context, the $60,000 area is highlighted as a key support zone that many analysts monitor.
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