Bitcoin Rallies As Standard Chartered Backs $100k Target Price
Bitcoin (BTC) rallied as investors piled into risky assets to hedge inflation risk, slightly outperforming a broadly rising crypto market amid Standard Chartered’s $100k price forecast for 2026. BTC rose by. . .
Bitcoin (BTC) rallied as investors piled into risky assets to hedge inflation risk, slightly outperforming a broadly rising crypto market amid Standard Chartered’s $100k price forecast for 2026. BTC rose by about 2% to $64. 1k, supported by a derivatives short squeeze that forced bearish traders to cover. It shows a strong correlation with Gold, indicating inflation-hedge positioning amid macro uncertainty. Standard Chartered has reaffirmed its year-end 2026 Bitcoin price target of $100,000. The bank’s research team argued that recent market weakness was driven by uncertainty about MicroStrategy’s treasury management and potential Bitcoin sales, rather than by a deterioration in Bitcoin’s fundamentals. They characterised these concerns as “mostly noise” and maintained their long-term bullish stance. This is bullish for Bitcoin as it provides institutional validation and counters narrative-driven selloffs. It suggests that core investment theses remain intact despite volatility from corporate treasury actions. The momentum was supported by a rapid, leverage-driven rally that forced the closure of bearish bets. In the 24 hours, over $80 million in Bitcoin short positions were liquidated, creating a feedback loop of forced buying that pushed prices higher without a corresponding surge in spot ETF demand. The move was amplified by positioning, not necessarily strong new institutional inflow. Sustained high funding rates, which could indicate continued leverage buildup. Bitcoin’s rise coincided with a 1. 16% gain in total crypto market cap. The move was supported by a weaker U. S. dollar and easing oil prices as U. S. -Iran peace talks reduced immediate geopolitical risk. Concurrently, a rally in Asian semiconductor stocks on AI optimism improved risk sentiment. The immediate technical structure shows Bitcoin testing the $64,000–$65,000 resistance band. The 50% Fibonacci retracement level at $62,498 and the 38. 2% level at $63,619 are key supports. The Federal Reserve’s upcoming meeting (July 28–29) is the next major catalyst for directional conviction. The trend is cautiously bullish but remains within a broader range. A daily close above $65,068 to confirm breakout momentum, or a break below $63,681 to signal weakness. The combination of a punishing short squeeze and supportive macro drift has lifted Bitcoin, but the rally lacks confirmation from strong spot ETF inflows. Investors are guided to monitor whether U. S. spot Bitcoin ETF flows turn positive in the coming days to validate the move as a demand-driven trend reversal, or if outflows persist, suggesting the squeeze may have exhausted near-term upside. #Bitcoin Rallies as Standard Chartered Backs $100k Target Price#BTCUSD Surges Past $64k Amid US Strategic Bitcoin Reserve PlanOlu AnisereOlu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development. He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory. Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions. His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set. His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers. Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.