Published: Friday, October 3, 2025 · 3:39 PM | Updated: Friday, October 3, 2025 · 3:39 PM
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🗝️ Key Points
- Investing.com — Bitcoin could be about to set a new all-time high, according to Standard Chartered’s global head of digital assets research, Geoff Kendrick.
- “ETF inflows and corporate treasury buying of BTC are set to exceed the Q2 level (245k BTC) in Q3 and Q4,” the bank said, while U.S.
- policy developments could add further momentum.
Investing.com — Bitcoin could be about to set a new all-time high, according to Standard Chartered’s global head of digital assets research, Geoff Kendrick.
“I think it is now ready and that BTC will print a fresh all-time high next week and likely hit my forecast for Q3 of USD 135,000 soon thereafter,” Kendrick wrote, adding that the target will be reached “one to two weeks later than predicted.”
Standard Chartered sees several forces driving prices higher in the second half of 2025. “ETF inflows and corporate treasury buying of BTC are set to exceed the Q2 level (245k BTC) in Q3 and Q4,” the bank said, while U.S. policy developments could add further momentum.
Kendrick highlighted “a potential announcement by President Trump of Fed Chair Powell’s early replacement and passage of the US stablecoin bill” as catalysts.
The analyst also argued that the traditional Bitcoin halving cycle no longer applies.
“Thanks to increased investor flows, we believe BTC has moved beyond the previous dynamic whereby prices fell 18 months after a ‘halving’ cycle,” he said, pointing to April 2024’s event that in past cycles would have implied weakness in late 2025.
Instead, Standard Chartered expects choppy trading in early Q4 but forecasts renewed gains.
Kendrick also pointed to the ongoing U.S. government shutdown as a near-term driver, noting Bitcoin’s correlation with Treasury term premiums and saying: “I suspect Bitcoin will rise throughout the shutdown.”
Standard Chartered maintains a year-end forecast of $200,000 for Bitcoin, calling H2 2025 “Bitcoin’s best ever (in USD increase terms).”
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