Bank raises Bitcoin year-end forecast to $100,000 after calling $59,000 the cycle low, citing easing market overhangs.
Standard Chartered’s digital assets research head Geoff Kendrick said Bitcoin’s June 5 dip to $59,000 marked the cycle bottom, ending the crypto winter. The bank maintained a $100,000 year-end target, implying a 70% upside from current levels near $66.5k, and expects Ether to outperform Bitcoin.
Recent weeks saw three key overhangs pressuring crypto: liquidity concerns tied to a delayed SpaceX IPO, regulatory uncertainty, and macroeconomic volatility. Kendrick noted these factors are now lifting, reinforcing the bullish outlook. Bitcoin ETFs recorded their largest inflows in a month on Friday, reversing prior outflows.
The call aligns with a weekend rally in crypto majors, with BTC climbing to $66.5k and select altcoins posting double-digit gains. Standard Chartered’s note framed the current price as an attractive entry point for long-term investors.