Bitcoin Price Eyes $126K as $1.92B ETF Inflows Revive Standard Chartered Bull Case

bitcoin logo representing bitcoin etfs surge

Bitcoin price is once again back into the spotlight, after a sharp rally has brought forth fresh institutional demand for the asset. US spot Bitcoin ETFs are recording a new surge, with nearly $1.92B worth of inflows in the last five days. This surge has arrived as Bitcoin rebounds from its recent weakness, with the asset regaining investor attention. This development has also changed the tone around the Standard Chartered Bitcoin outlook, with the firm suggesting Bitcoin price could retest $126K by year-end.

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Bitcoin ETF Inflows Return

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The latest ETF flows have taken the market by surprise. US spot Bitcoin ETFs attracted roughly $1.92B over five trading days. This added support to the Bitcoin price rally, with institutional demand strengthening the market backdrop.

The inflows have arrived alongside a major move in Bitcoin, which reached roughly $79K on August 21. The rally was accompanied by short liquidations, as traders who continued to bet against BTC were forced to close their positions. As shared by Bloomberg, nearly 13 US-listed funds drew nearly $1.92B, with BlackRock’s IBIT accounting for roughly $1.3B of last week’s inflows. This development is crucial as Bitcoin had lately been witnessing significant net outflows.

Bitcoin has also benefited from recent US fiscal and Treasury policy changes. The fact that the US plans to increase buybacks is also weighing on the dollar, pushing investors towards Bitcoin and gold.

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Standard Chartered $126K Price Angle

Standard Chartered’s Geoff Kendrick has now outlined a new potential price path for Bitcoin. Kendrick believes that the existing $100K year-end forecast may be too low for the asset. He later shared how Bitcoin’s price has the potential to retest $126K by year-end.

Kendrick believes that the spot Bitcoin ETFs may continue to recover by year-end, giving the Bitcoin price a much-needed boost toward the $126K level.

A continued ETF inflow may strengthen Bitcoin’s position, helping the asset move higher. However, $126K should be viewed as a potential retest of Bitcoin’s previous all-time high, not a guaranteed price targe

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Juhi Mirza

Written by Juhi Mirza

Juhi Mirza is a crypto journalist and writer covering digital assets, blockchain, markets, and emerging trends in the Web3 industry.