Standard Chartered has reiterated its bullish outlook for Bitcoin, projecting the cryptocurrency will climb to about $135,000 by the end of the third quarter of 2025 and reach $200,000 before the year concludes. The forecast was detailed in a 2 July report by Geoff Kendrick, head of the bank’s digital-asset research team. The bank cites sustained inflows into U.S. spot Bitcoin exchange-traded funds, expanding corporate treasury allocations and potential policy tailwinds—including Federal Reserve rate cuts and possible passage of a U.S. stablecoin bill—as the main drivers of demand. While Kendrick expects some price volatility in late Q3 and early Q4, he argues that Bitcoin has moved beyond the traditional post-halving correction pattern thanks to these new sources of capital. Looking further ahead, Standard Chartered maintained a long-term price objective of about $500,000 per Bitcoin by 2028, assuming institutional participation continues to deepen and macro conditions remain supportive.