Standard Chartered has maintained its $100,000 Bitcoin price prediction for year-end.
Geoffrey Kendrick is bullish on Bitcoin due to three reasons including Strategy continuing BTC buys.
Deeper crash risks are lower as leveraged longs available for liquidation are smaller than in earlier crashes.
$920 billion Wall Street giant Standard Chartered maintained its $100,000 Bitcoin price prediction despite the crash to $61K lows today. The investment bank claimed Bitcoin bottom is almost near to trigger a buy-the-dip sentiment. The bank also remained optimistic on Strategy’s aggressive Bitcoin buying and spot Bitcoin ETF inflows in the coming months.
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Standard Chartered Maintains $100K Bitcoin Price Prediction, Suggests Buying
In a note to clients on June 4, Standard Chartered maintained its $100,000 Bitcoin price prediction for year-end. The bank claimed that the selling, driven by Strategy’s surprise sale, spot ETF outflows, and crypto market liquidations, is likely over.
Geoffrey Kendrick, the global head of digital assets research at Standard Chartered, said Bitcoin’s bottom is “nearly in place.” He added that “when we look back at the end of 2026 with Bitcoin price around $100,000, we will say this was the buying zone we all wanted.”
Bitcoin price has dropped more than 15% since Monday and is down around 30% for the year. While the crypto asset is trading near $64,000 after the US jobless claims rise, the bank has maintained its $100,000 Bitcoin price prediction.
Bitcoin Plunge Rattles Strategy’s Playbook. Source: Reuters
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Three Reasons Why Geoffrey Kendrick Is Bullish
First, Strategy had purchased more BTC after selling historically. When the firm last sold Bitcoin in 2022, it purchased more than it sold two days later.
Geoffrey Kendrick said “The timing of the sale was a shame,” but he expects an “aggressive” Bitcoin buying by Strategy. Michael Saylor’s Strategy sold Bitcoin worth $2.5 million fund distributions on preferred stock.
Second, spot ETF holdings are holding up better than feared. The cumulative net inflow since inception remains at $54.2 billion, similar to earlier in the year. Total BTC held by spot ETFs sits at approximately 674,000 BTC, down from a peak near 682,000 but broadly unchanged in structural terms.
Third, the leveraged longs available for liquidation are smaller than in prior crashes. Bitcoin futures bets worth $1.5 billion were liquidated by exchanges during the current crypto market crash, a figure in line with selloffs in January.
Recently, Standard Chartered’s Geoffrey Kendrick predicted that Strategy’s BTC sale could trigger Ethereum’s outperformance over Bitcoin. The bank cut its 2026 Ethereum price target by 47% to $4000, but kept its $40,000 long-term prediction intact.