Standard Chartered sees Bitcoin year‑end target could exceed $100k after record short squeeze

Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, revised his outlook for Bitcoin after a three‑day rally that pushed the price to $79,500, the highest level since May. The analyst now believes the year‑end target of $100,000 could be too low, citing record short‑liquidations and strong inflows into U.S. spot Bitcoin exchange‑traded funds (ETFs).

Record short‑liquidations boost upside risk

Data from Coinglass shows Bitcoin short positions were liquidated at a total of about $1.44 billion during the Aug. 19‑21 rally, the largest three‑day total in the dataset that extends back to June 2021. Forced closures of leveraged bearish positions add buying pressure, creating a cascade effect that can accelerate price gains.

ETF inflows add fresh demand

U.S. spot Bitcoin ETFs recorded roughly $1.92 billion of net inflows over five trading sessions, with BlackRock’s iShares Bitcoin Trust (IBIT) contributing about $503 million in a single day. These inflows require fund managers to purchase Bitcoin in the spot market, further supporting price appreciation.

Potential year‑end price scenario

Kendrick suggests that if Bitcoin can sustain momentum past the October 6, 2025 all‑time high of $126,000, an overshoot toward that level before year‑end is possible. He links this potential move to the combination of short‑liquidation dynamics, ETF demand, and a perception of Bitcoin as a “Giffen good” for long‑term investors.

Broader market context

The rally coincided with Treasury actions to expand liquidity‑support buybacks for longer‑dated government securities and a White House crypto event that highlighted regulatory initiatives such as the CLARITY Act. While futures open interest remains relatively low, the analyst notes that increased derivatives activity could provide additional market depth.

Long‑term outlook

Standard Chartered’s longer‑term projection still targets $500,000 for Bitcoin by 2030, with Ether projected at $40,000 over the same horizon.