Standard Chartered Says $100K Bitcoin Target May Now Be ‘Too Low’

Standard Chartered’s Geoff Kendrick says Bitcoin could push toward its all-time high of $126,000 before year-end, with the recovery potentially picking up pace after October 6. Kendrick, the bank’s global head of digital asset research, said his earlier $100,000 forecast may now be too conservative given the strength of the current rally.

Short Liquidations and ETF Inflows Drive Momentum

Kendrick noted the recent rally has largely been fueled by short liquidations, while inflows into spot Bitcoin ETFs have also started recovering. He added that low open interest could leave room for more investors to enter as prices continue climbing. In February, Kendrick had cut his year-end Bitcoin target from $150,000 to $100,000, expecting a drop to around $50,000 before a later recovery.

Other Analysts See Bear Market Ending

Additional voices in the industry share a similar outlook. Swan Bitcoin CEO Cory Klippsten has suggested Bitcoin may bottom out in October, while 10x Research founder Markus Thielen pointed to an August close above $63,000 as a possible confirmation of a bear-market bottom. Bitcoin traded at $76,844 at the time of writing, up 24% over the past week.