Standard Chartered has reaffirmed its bullish outlook on Bitcoin, maintaining its year-end price target of $100,000 despite the leading cryptocurrency facing significant turbulence. The banking giant considers current levels (approximately $64,000) a “screaming buy” opportunity, pushing back against analysts who expect BTC to plunge below $60,000. The call comes amid market nervousness about Strategy’s recent Bitcoin sales, which some interpreted as a bearish signal.
Standard Chartered’s analysts argue that the market fear surrounding Strategy’s recent Bitcoin sales is overblown. Last month, BTC dropped amid concerns about STRC, the dividend-paying preferred stock issued by the Virginia-headquartered firm, falling below $100 and weakening the company’s capital-raising ability. However, Standard Chartered now expects Bitcoin to reclaim levels that would eliminate the need for Strategy to perform additional BTC sales, as the company would be able to meet its financial obligations without them.
It is worth noting that Standard Chartered’s Bitcoin price target history requires context. In 2024, the bank raised its year-end forecast to as high as $150,000 and predicted the bull cycle would peak at $250,000 in 2025. Despite BTC struggling to reach these targets, the bank’s analysts doubled down, predicting BTC would hit $200,000 the previous year due to ETF inflows. The record suggests caution is warranted when interpreting their forecasts.
However, the broader sentiment from multiple institutional voices remains constructive. Former White House Communications Director Anthony Scaramucci said this week that “Bitcoin needs no narrative,” dismissing July’s market noise as irrelevant for long-term holders. The convergence of institutional perspectives — from Scaramucci’s macro optimism to Standard Chartered’s technical analysis — paints a picture of an asset class that, despite short-term volatility, continues to attract serious, long-term capital commitments from sophisticated investors.