- Bitcoin could reach a new all-time high within a week, according to Standard Chartered.
- Geoff Kendrick noted a break from Bitcoin’s typical post-halving price pattern.
- Bitcoin traded at around $120,000 after a recent rally, with previous peak close to $124,000.
- Institutional demand, including ETF inflows, is expected to drive further price increases.
- Standard Chartered sees the potential for Bitcoin to reach $135,000 soon, and possibly $200,000 by year-end.
Standard Chartered reported on Friday that Bitcoin could set a new record high within the next week, with momentum potentially carrying the price up to $135,000. The statement followed significant increases in Bitcoin’s value after a surge in trading activity.
Geoff Kendrick, the bank’s Global Head of Digital Assets Research, highlighted that Bitcoin has not followed its historical pattern of falling prices about 18 months after a halving event. Kendrick noted that following the April 2024 halving, Bitcoin’s price has remained strong instead of weakening, as has been typical in previous cycles.
At the time of reporting, Bitcoin was valued at approximately $120,000. The cryptocurrency’s previous peak reached about $124,000 in August, putting current prices roughly 3% below that milestone. A rise to $135,000 would mark an additional 12% increase from present levels. Kendrick described trading sentiment as “extremely bullish,” and referenced the market’s tendency for strong performance in October—often termed “Uptober” by traders.
Kendrick also pointed out that macroeconomic factors, such as concerns over U.S. government operations and the relationship with U.S. treasury term premiums, are influencing Bitcoin’s price this year. He added, “The shutdown matters this time around. During the previous Trump shutdown, Bitcoin was in a different place than now, so it did little. However, this year Bitcoin has traded with ‘U.S. government risks’ as best shown by its relationship to U.S. treasury term premium.”
Institutional interest, particularly in Bitcoin exchange-traded funds (ETFs), is also significant. Kendrick reported that net ETF inflows have reached $58 billion, with $23 billion entering in 2025 alone. He projected at least another $20 billion in inflows by the end of the year, a figure that could align with his forecast of Bitcoin reaching $200,000 by year-end.
Over the past twelve months, Bitcoin’s price has nearly doubled and increased by about 30% so far this year. For more, see the original analysis by Decrypt.
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