Coinbase Takes Fresh Blows With the Crypto Rout Deepening

A drumbeat of bearish signals is building across the crypto industry, with Standard Chartered slashing its Bitcoin price target and Coinbase Global Inc.getting cut to sell as momentum traders struggle to push Bitcoin back toward its highs.

Standard Chartered lowered its year-end 2026 Bitcoin forecast to $100,000 from $150,000 — and from $300,000 just months earlier — warning the cryptocurrency could drop to $50,000 before stabilizing. The bank pointed to weakening price momentum and a tougher macro backdrop while the token tumbled again Thursday, dropping as much as 4% to $65,079.

“This dynamic suggests a return to last week’s ...