Standard Chartered is doubling down on its bullish stance, with lead analyst Geoff Kendrick signaling that the bank’s previous $100,000 year-end Bitcoin target might actually be an undervaluation. According to Kendrick, the premier cryptocurrency is positioned to charge toward the $126,000 level, potentially setting new all-time highs as market liquidity conditions improve entering the final quarter of the year.
The catalyst for this projected rally is a significant recovery in U.S. spot Bitcoin ETF inflows. Kendrick anticipates a shift in momentum after October 6, suggesting that the recent lull in institutional buying was merely a temporary consolidation phase. As major funds like BlackRock and Fidelity continue to integrate BTC into traditional portfolios, the supply-side pressure on exchanges is expected to tighten further.
For U.S. investors, this forecast comes amid a shifting political and regulatory landscape. With crypto becoming a pivotal talking point in the upcoming election cycle, any move toward regulatory clarity could act as a force multiplier for ETF demand. Traders should watch for a sustained break above recent resistance levels and monitor daily ETF net flow data as a primary indicator of the $126,000 thesis playing out.