Bitcoin Eyes $126,000 as Standard Chartered Raises Conviction
Standard Chartered's global head of digital asset research believes Bitcoin could surge toward its all-time high of $126,000 by year-end, citing recovering ETF inflows and structural market improvements.
Bitcoin’s Bull Case Strengthens as Standard Chartered Sees $126,000 Potential
The outlook for Bitcoin has become notably more optimistic, with Standard Chartered revising its expectations upward. According to Geoff Kendrick, global head of digital asset research at the major financial institution, Bitcoin could potentially reach its all-time high of $126,000 before the end of the year, with particular acceleration possible following October 6, as reported by Cointelegraph.
This represents a meaningful shift in Standard Chartered’s positioning. Earlier in 2026, the institution had already cut its year-end Bitcoin target to $100,000 from a prior forecast of $150,000. Now, Kendrick is openly questioning whether even that $100,000 estimate might underestimate Bitcoin’s potential given the strength of the current rally.
Recovery Drivers Emerging Across Multiple Fronts
The most recent leg of Bitcoin’s appreciation has been fueled by converging market dynamics. According to Standard Chartered’s analysis, short liquidations have played an outsized role in accelerating recent gains, creating momentum that feeds on itself. Simultaneously, institutional and retail capital flowing into spot Bitcoin exchange-traded funds has begun recovering after a prolonged period of outflows, signaling renewed confidence in digital assets.
Kendrick emphasized that open interest in Bitcoin derivatives markets remains comparatively low relative to current price levels. This structural feature suggests substantial room for additional investors to establish positions as prices continue rising, providing a potential tailwind for sustained appreciation.
Industry Consensus Builds Toward Recovery
Standard Chartered’s constructive reassessment aligns with sentiment building among other influential market participants. Cory Klippsten, CEO of Swan Bitcoin, has projected that October may represent a capitulation point for Bitcoin, implying that further downside could exhaust seller interest. Markus Thielen, founder of 10x Research, offered a specific technical milestone—an August close above $63,000—as confirmation that the bear market had effectively ended. As Bitcoin traded near $76,844, the asset had climbed approximately 24% over the previous week, according to CoinGecko data.
When major institutional players like Standard Chartered shift their longer-term forecasts upward, the move often presages significant capital reallocation. An ascent toward $126,000 would represent a substantial revaluation of Bitcoin and typically triggers positive spillover effects across the broader cryptocurrency ecosystem. As Bitcoin strength builds conviction, capital tends to broaden into alternative digital assets, potentially supporting XRP and other major cryptocurrencies. The convergence of technical improvements—recovering institutional demand, oversold sentiment capitulation, and structural room for new positioning—suggests a market in transition from pessimism to optimism. As top-tier financial institutions like Standard Chartered publicly increase their Bitcoin conviction, the resulting capital flows and sentiment shifts typically benefit the entire crypto market, including XRP.
Source: Standard Chartered, via Cointelegraph. Not financial advice.