Standard Chartered has signaled a potential shift in its Bitcoin outlook, suggesting that the previously anticipated $100,000 threshold may be an underestimate. Geoff Kendrick, the bank’s lead analyst, pointed to evolving market dynamics that could propel the digital asset toward its historic $126,000 peak.
The bank notes that a significant catalyst for this upward momentum is expected to materialize following October 6. Analysts are closely monitoring the resurgence of capital flowing into spot Bitcoin ETFs, which serves as a primary barometer for institutional appetite.
Key factors driving the optimism include:
- Increased institutional engagement via spot ETFs.
- Favorable shifts in liquidity entering the fourth quarter.
- Potential for breaking previous cycle resistance levels.
As the crypto market enters a critical period, the bank’s adjusted stance reflects growing confidence in Bitcoin’s resilience. If current inflow trends sustain their pace, the asset may well defy earlier, more conservative price models established for the current calendar year.
