Standard Chartered suggests Bitcoin may exceed $100,000 year-end target

The recent rally, which lifted Bitcoin from its mid-year range of $60,000 to $65,000, is primarily fueled by short liquidations and a resurgence in U.S. spot Bitcoin ETF inflows. Kendrick noted that low open interest across the market provides a healthy environment for investors to rebuild positions without the immediate risk of a crowded leverage collapse. While the bank has not officially adjusted its target, Kendrick identified the period following October 6 as a potential inflection point for the asset’s momentum.

This bullish sentiment marks a significant shift from the bank’s stance during the volatile June selloff, when Kendrick previously defended the $100,000 mark against downward pressure. Although the bank downgraded its original $150,000 forecast in February due to macroeconomic headwinds and ETF outflows, the current price action has cleared major resistance zones that previously capped gains. With other industry analysts, including those at 10x Research and Swan Bitcoin, similarly signaling a potential end to the bear market, the focus has shifted toward whether Bitcoin can sustain this trajectory through the final months of the year.