Standard Chartered Says Bitcoin Could Retest $126K by Year End
Standard Chartered’s Geoff Kendrick says Bitcoin’s recent recovery has strengthened enough that the bank’s previous $100,000 year end target may now be too conservative.
• Bitcoin could retest its previous all-time high near $126,000 before year end.
• The latest rally has been driven largely by short liquidations.
• Spot Bitcoin ETF inflows have started recovering, adding potential demand.
• Low market open interest could leave room for new investors to re enter if BTC continues rising.
• Kendrick said the current setup creates a risk that his previous $100,000 target is too low.
The shift is notable: $100,000 is no longer being viewed as an ambitious ceiling, while a retest of Bitcoin’s previous record is becoming a more realistic scenario.
#BitcoinHitsIntradayHigh$75500
$STX $BTC #cryptofirst21
Standard Chartered’s Geoff Kendrick says Bitcoin’s recent recovery has strengthened enough that the bank’s previous $100,000 year end target may now be too conservative.
• Bitcoin could retest its previous all-time high near $126,000 before year end.
• The latest rally has been driven largely by short liquidations.
• Spot Bitcoin ETF inflows have started recovering, adding potential demand.
• Low market open interest could leave room for new investors to re enter if BTC continues rising.
• Kendrick said the current setup creates a risk that his previous $100,000 target is too low.
The shift is notable: $100,000 is no longer being viewed as an ambitious ceiling, while a retest of Bitcoin’s previous record is becoming a more realistic scenario.
#BitcoinHitsIntradayHigh$75500
$STX $BTC #cryptofirst21