Bitcoin's $100,000 Price Forecast May Be Too Low After Record Short Squeeze
Standard Chartered's Head of Digital Assets Research, Geoffrey Kendrick, now suggests his year-end Bitcoin price target of $100,000 could be "too low," following a record-breaking short squeeze and renewed institutional demand.
A massive three-day rally from August 19-21, driven by US Treasury liquidity measures and a pro-crypto White House meeting, forced the largest Bitcoin short liquidations on record, with nearly $1.44 billion in $BTC positions wiped out. This forced buying accelerated the price surge, pushing Bitcoin above $79,500. Concurrently, U.S. spot Bitcoin ETFs saw significant net inflows, adding roughly $1.92 billion over five sessions, with BlackRock's IBIT leading.
Kendrick characterizes Bitcoin as a "Giffen good" for long-term investors, where rising prices spur more buying. He notes that with investor confidence returning and the anniversary of Bitcoin's October 2025 all-time high approaching, the price could potentially exceed that previous peak of $126,000 by year-end. While Standard Chartered had lowered its target from $150,000 earlier this year, its long-term outlook remains bullish, projecting $500,000 by 2030.
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