Standard Chartered wavers on $100K Bitcoin year-end call, says it may be ‘too low’
Summary
Bitcoin could approach its $126,000 all-time high by year-end, with upside possibly strengthening after Oct. 6, according to Standard Chartered’s Geoff Kendrick. He says the recent rally has been driven mainly by short liquidations, while spot Bitcoin ETF inflows are recovering and low open interest leaves room for more buyers to return. Kendrick now sees a risk that his $100,000 year-end target is too low. He had previously cut that target from $150,000 after expecting a drop to around $50,000 before a later rebound. Other market watchers also see signs the bear market may be ending. Bitcoin was trading near $76,844, up 24% in a week.
