Standard Chartered, a leading British banking giant, has maintained its end-of-year price target of $200,000 for Bitcoin 
$77,690 in its latest report. Geoffrey Kendrick, the head of Digital Asset Research at the bank, anticipates that the price of the largest cryptocurrency will rise to $135,000 by September 30 and ultimately reach $200,000 by December 31. This forecast implies a record-breaking surge of $92,000 in just six months for Bitcoin, which is currently trading at around $107,500. The report attributes this anticipated growth to inflows into spot ETFs, corporate treasury purchases, and expected regulatory developments.
ETFs and Institutional Demand Drive Prices Upward
According to the report, spot Bitcoin ETFs and institutional players accumulated 245,000 BTC in the second quarter, equivalent to approximately $26 billion. Kendrick believes that as passive fund allocations continue and public companies mimic the leveraged treasury model of Strategy, this figure could be surpassed in both the third and fourth quarters. Data shows that companies outside Strategy have purchased 56,000 BTC in the second quarter alone, nearing Strategy’s acquisition of 69,000 BTC during the same period.
The bank emphasized the increased shift toward crypto as the largest safe haven during times of heightened geopolitical tension. The ETF inflows of $12.4 billion between April and June surpassed those into gold ETFs, reinforcing Bitcoin’s identity as a macro asset. Furthermore, the limited short positions in hedge fund futures markets in Chicago have been noted as a factor supporting the price.
Political Winds Add Extra Momentum to Bitcoin
Kendrick maintains that the current price cycle is shaped more by permanent capital inflows than by supply shocks. Previously, after the Bitcoin halving or block reward reduction, an 18-month peak-to-trough model was observed, but ETFs and institutions were not present during those times. Standard Chartered anticipates that long-term investors will sell less this year, and ongoing ETF inflows will absorb potential profit-taking.
The report identifies three potential political catalysts for further upside: President Donald Trump announcing a pro-rate-cut replacement for Fed Chair Jerome Powell, bipartisan support for the stablecoin bill GENIUS in Congress, and 13F reports indicating sovereign fund purchases. The bank believes these developments could boost 10-year Treasury yields, strengthening Bitcoin’s correlation and driving the price to $135,000 by September 30 and ultimately to $200,000 by year-end.
