- Standard Chartered says Bitcoin could retest its $126,000 all-time high before the end of 2026 following its sharp recovery toward $80,000.
- Analyst Geoff Kendrick said there is now a risk that his existing $100,000 year-end Bitcoin forecast is too low.
- Short liquidations and renewed inflows into U.S. spot Bitcoin ETFs could provide additional momentum for BTC.
Bitcoin’s rapid recovery has prompted Standard Chartered to become even more bullish, with the bank now seeing a potential retest of the cryptocurrency’s $126,000 all-time high before the end of the year.
Bitcoin rallied roughly 23% over the past week to trade around $77,300 on Aug. 21. The move has pushed BTC decisively beyond the $60,000 to $65,000 range that contained the cryptocurrency for much of the past few months.
Standard Chartered analyst Geoff Kendrick said the strength of the recovery has challenged his existing $100,000 year-end forecast.
“For the first time this year there is now a risk my end year forecast (of USD100k) is too low,” Kendrick wrote.
Short Squeeze Helps Bitcoin Break Higher
A major driver behind the rally has been the liquidation of bearish positions. As Bitcoin moved sharply higher, short sellers were forced to close positions, creating additional buying pressure and accelerating the breakout.
Kendrick believes that forced buying helped start the move, but returning demand for U.S. spot Bitcoin ETFs could provide a more sustainable source of support.
Continued ETF inflows would be particularly important now that much of the initial short squeeze has already played out.
Bitcoin Could Revisit Its Record High
Bitcoin reached its previous record of approximately $126,000 in October 2025 before entering a prolonged downturn. The cryptocurrency eventually declined about 54% from peak to trough, reaching roughly $58,000 at the end of June.
Kendrick believes the recovery could accelerate after Oct. 6, the anniversary of Bitcoin’s previous all-time high, potentially setting up another attempt at $126,000 before year-end.
Standard Chartered has not formally replaced its $100,000 target with a $126,000 forecast. Instead, Kendrick sees the previous record as increasingly achievable if ETF demand remains strong and Bitcoin maintains its latest momentum.
