Standard Chartered Bank: Bitcoin's $100,000 Year-End Price Target May Be Too Low

TechFlow reports that on August 23, according to Cointelegraph, Geoff Kendrick, Head of Global Digital Asset Research at Standard Chartered Bank, stated that the current year-end forecast of $100,000 for Bitcoin may be "too low." As inflows into spot Bitcoin ETFs resume, Bitcoin could rally toward its all-time high of $126,000 before the end of the year.

Kendrick noted that this rally has been primarily driven by short liquidations, while current open interest remains at relatively low levels, potentially leaving room for more investors to re-enter the market as prices continue to climb. In February, Kendrick had previously lowered his year-end price target for Bitcoin from $150,000 to $100,000.