Standard Chartered has doubled down on its $100,000 price target for Bitcoin, calling the cryptocurrency a 'screaming buy' at its current level of $64,000. The bank expects Bitcoin to soar 56% by the end of the year, driven by stabilizing conditions around Bitcoin treasury companies like Strategy and a return of inflows into spot Bitcoin ETFs. It also notes that some Bitcoin miners who pivoted to artificial intelligence may shift back to crypto amid AI bubble concerns. Bitcoin has historically recovered from major drawdowns, including a 64% drop in 2022 before reaching $100,000 by late 2024.
