After the warning issued by Standard Chartered, Bitcoin stabilizes in the Asian market.

After Standard Chartered Bank issued a warning that Bitcoin may further weaken, the cryptocurrency fell overnight in the US market, with a stable trend during the Asian session on Friday. During the midday period, the trading price of Bitcoin rose by about 1% to $66,400; earlier in the New York market, it fell sharply by 4% to touch $65,079, the lowest level this week. Ethereum was trading at around $1,950, higher than the low point of $1,896 reached in the US. Jeffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, wrote in the report, "We expect prices to come under further pressure in the coming months." He pointed out reasons including ETF outflows and a weakening macroeconomic environment. Standard Chartered Bank has lowered its year-end Bitcoin target price from $150,000 to $100,000 by 2026, and warned that Bitcoin may fall to $50,000 first before stabilizing. Bitcoin fell to a low of $60,033 last week, a decrease of over 45% from its high of slightly over $126,000 in October, and multiple rebounds have not been sustained, indicating weakening speculative demand. Meanwhile, the entire cryptocurrency market has evaporated nearly $2 trillion in market value.