Standard Chartered's Geoff Kendrick Sees Bitcoin Moving Toward $126,000 by Year-End

Standard Chartered digital assets research global head Geoff Kendrick said Bitcoin could move toward its all-time high of $126,000 before the end of the year, with the rebound potentially accelerating after October 6. According to ChainCatcher, Kendrick said there is now a risk that his year-end forecast of $100,000 may prove too low.Kendrick said the recent rise has mainly been driven by short liquidations, while spot Bitcoin ETF inflows have also started to recover. He added that relatively low open interest could leave room for more investors to re-enter the market as prices rise.In February, Kendrick cut Standard Chartered's year-end Bitcoin target from $150,000 to $100,000 and lowered its Ethereum target from $7,500 to $4,000. At the time, he expected Bitcoin to fall to around $50,000 and Ethereum to drop to around $1,400 before recovering later in the year.