Standard Chartered Keeps $100K Bitcoin Price Over $64K

Bitcoin has recovered to trade above $64,000 after a major financial institution reaffirmed its confidence in the cryptocurrency's long-term value, arguing that recent market turbulence was driven by confusion over a key corporate holder's strategy rather than fundamental weakness. Standard Chartered maintained its year-end 2026 price target of $100,000 for Bitcoin, framing a significant sell-off in June as a temporary communication issue.

The volatility was triggered by actions from Strategy Inc., the world's largest corporate Bitcoin holder. The company, which owns approximately 843,775 Bitcoin, recently moved away from its longstanding "never sell" policy. On June 1, Strategy disclosed it had sold 32 Bitcoin the prior week, an announcement that contributed to Bitcoin's price falling from around $80,000 to nearly $60,000. The company later executed its largest single disposal to date, selling 3,588 Bitcoin for roughly $216 million last week.

According to Geoffrey Kendrick, Standard Chartered's Global Head of Digital Assets Research, the market's negative reaction stemmed from a failure to clearly communicate a strategic pivot, not from underlying financial distress at...