Bitcoin’s recent surge toward $77,000 has prompted Standard Chartered to reconsider its year-end price target, with research head Geoff Kendrick now suggesting $100,000 may understate the cryptocurrency’s potential. In a Friday note, Kendrick noted that the latest rally—fueled by short liquidations and recovering spot Bitcoin ETF inflows—could accelerate after Oct. 6, potentially pushing Bitcoin to new all-time highs near $126,000.
Kendrick’s revised outlook contrasts with his February downgrade, when he reduced Standard Chartered’s year-end Bitcoin target from $150,000 to $100,000 and Ether’s from $7,500 to $4,000. At the time, he forecasted a temporary decline to around $50,000 for Bitcoin and $1,400 for Ether before a recovery. The latest price action suggests a faster rebound than anticipated.
Industry observers have also signaled signs of a market trough. Swan Bitcoin CEO Cory Klippsten predicted Bitcoin could bottom in October, while 10x Research’s Markus Thielen argued an August close above $63,000 would confirm a bear-market reversal. Bitcoin last traded at $76,844, up 24% over the past week, according to CoinGecko data.
The cryptocurrency’s momentum follows a period of heightened volatility, with analysts attributing the rebound to a mix of technical unwinding and renewed institutional interest via ETFs. Kendrick emphasized that low open interest in derivatives markets could further amplify upward moves as more investors re-enter the space.
