Standard Chartered Revises Bitcoin Target Upward, Citing Strong Institutional Inflows

Standard Chartered Bank has admitted that its earlier prediction of Bitcoin reaching $120,000 in Q2 may be too conservative, following recent market developments. Speaking on CNBC, analyst Geoffrey Kendrick noted that Bitcoin surged after the US resumed customs tariff talks with China and finalized an agreement with the UK, signaling improved macroeconomic conditions. Kendrick pointed out that bullish expectations are increasing as Bitcoin nears $100,000, and emphasized that institutional investors are now driving substantial capital inflows, particularly into US Spot Bitcoin ETFs. The market narrative, he explained, has shifted from a correlation with risk assets to Bitcoin's adoption as a strategic asset, fueled by significant flows from institutional channels. Kendrick concluded by apologizing for underestimating Bitcoin's trajectory, suggesting an even higher price is attainable, though this is not investment advice.