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Bitcoin fell hard. Then it bounced. And Standard Chartered didn’t blink.
The bank’s digital-assets research head, Geoffrey Kendrick, put out a note saying the recent selloff probably marked the cycle bottom for Bitcoin. That’s a bold read when the market was rattled and a lot of traders were cutting exposure. But Kendrick didn’t pull back the $100,000 Bitcoin target. Not even close.
The dip took Bitcoin down toward $59,000 — a sharp move that shook confidence across the crypto market. Selling pressure built fast, the kind of wave that tends to drag sentiment with it. But Bitcoin clawed back, and that rebound is pretty much central to how Standard Chartered is reading things right now.
Kendrick Sees a Cycle Bottom
Kendrick’s view is that the drop to $59,000 wasn’t a breakdown. It was a marker — the kind of price point that, in hindsight, tends to look like a bottom in a market cycle. He sees current dynamics as setting up a bullish phase, not signaling deeper structural trouble. The bank’s $100,000 target stays intact, and it’s not a casual number. It’s the cornerstone of their digital asset strategy.
Standard Chartered’s confidence isn’t new. The bank has been bullish on Bitcoin for a while, and the recent turbulence didn’t change the framework. Kendrick’s note frames the selloff as natural volatility — the kind that’s basically baked into how crypto markets move — rather than a sign that something fundamental broke. Institutional adoption is still a key piece of the thesis. So are regulatory developments, though those remain murky and hard to predict with any precision.
The bounce after the $59,000 low is, per the bank’s read, a positive signal. Investors didn’t walk. They stayed, and some bought. That kind of resilience is exactly what Standard Chartered points to when defending a target that still sounds ambitious to plenty of people watching from the sidelines.
Ethereum Target Stays at $4,000
It’s not just Bitcoin. Standard Chartered also reaffirmed its $4,000 target for Ethereum, the second-largest cryptocurrency by market cap. Ethereum had its own rough stretch — fluctuations that, from the bank’s perspective, are temporary rather than trend-defining.
Kendrick put weight on Ethereum’s ongoing technological upgrades. The network keeps developing. Those improvements, in the bank’s view, should drive adoption and push value higher over time. So $4,000 stays on the board, even if Ethereum’s near-term price action has been choppy. No adjustment to the forecast. No hedging on the number.
That’s a consistent stance across both assets. Standard Chartered isn’t picking one over the other or quietly walking back a target while keeping the other loud. Both numbers hold.
What the Bank Is Watching
The $100,000 Bitcoin call hinges on a few things moving in the right direction. Institutional adoption is probably the biggest lever — more firms coming in with real capital, not just exploratory positions. Regulatory clarity matters too, though the landscape keeps shifting and no one can say exactly when or how that resolves. Macroeconomic factors are in the mix as well, the kind of backdrop stuff that affects risk appetite broadly and crypto specifically.
Standard Chartered hasn’t given any timeline update or revised its view based on the recent volatility. No new comments came out beyond Kendrick’s note. The bank is basically standing by its analysis and waiting for the market to catch up.
For traders and institutional watchers, that kind of public commitment to a price target carries weight. It’s not just a number on a research slide — it’s a stated position that the bank has to defend or walk back. So far, they’re defending it.
The selloff tested a lot of people. Some revised targets down. Some went quiet. Standard Chartered went the other direction and said, clearly, that the bottom is probably in and the path to $100,000 for Bitcoin and $4,000 for Ethereum remains open.
Unclear whether other major banks share that read right now. Kendrick’s note didn’t reference competitor forecasts or broader consensus views. It was a standalone call, grounded in the bank’s own cycle analysis and its read on where institutional interest is heading.
The rebound from $59,000 is the data point Standard Chartered keeps coming back to. Bitcoin fell, buyers showed up, and the price recovered. For Kendrick, that’s not noise. That’s the market telling you something about where the floor is.
Standard Chartered’s $100,000 Bitcoin target and $4,000 Ethereum target remain unchanged.
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Frequently Asked Questions
What is Standard Chartered’s current Bitcoin price target?
Standard Chartered is holding its Bitcoin target at $100,000, a call reaffirmed by digital-assets research head Geoffrey Kendrick even after Bitcoin dropped toward $59,000.
What is Standard Chartered’s Ethereum price forecast?
The bank kept its Ethereum target at $4,000, with Kendrick pointing to ongoing network upgrades and technological developments as the key drivers behind that projection.
