Standard Chartered's head of digital assets research is reconsidering the bank's year-end Bitcoin price target, suggesting that its $100,000 forecast may now underestimate where the cryptocurrency could land.
A Forecast Under Review
Geoff Kendrick, who leads digital assets research at Standard Chartered, indicated that the bank's earlier prediction of $100,000 for Bitcoin by the close of the year might be overly conservative. According to Kendrick, shifting market conditions and renewed institutional appetite are prompting a fresh look at the numbers.
The optimism stems largely from a rebound in spot Bitcoin exchange-traded fund inflows, which had cooled earlier but appear to be gaining momentum again. Kendrick pointed to the period after October 6 as a potential turning point, when Bitcoin could push back toward its all-time high near $126,000.
When the world's largest banks start calling their own bullish targets 'too low,' the market takes notice.
ETF Demand Driving the Outlook
Institutional demand channeled through spot Bitcoin ETFs has become one of the most closely watched indicators for the asset's near-term trajectory. A recovery in these inflows signals that large investors are returning to the market, providing fresh buying pressure that can lift prices.
Kendrick's comments reflect a broader sentiment among some analysts that Bitcoin's next leg up could arrive sooner than expected. The prospect of the cryptocurrency revisiting and potentially surpassing its record high has kept traders attentive to inflow data and macroeconomic signals.
Key points from Standard Chartered's revised thinking include:
- The $100,000 year-end target may be too low given current momentum
- Spot Bitcoin ETF inflows are showing signs of recovery
- The all-time high of roughly $126,000 remains a realistic upside scenario
While Kendrick stopped short of issuing a new formal price target, his willingness to revisit the bank's own projection underscores the shifting mood around Bitcoin as the year progresses.