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Standard Chartered Bank has increased its optimism for Bitcoin price in the second half of 2025.
Standard Chartered: Bitcoin Could Surpass $135K in Q3 2025
In the report published by the bank today, it was estimated that BTC will exceed $ 135,000 by the end of the third quarter and exceed $ 200,000 by the end of the year, due to the effect of increasing Bitcoin purchases by corporate treasuries and strong ETF inflows.
The report, which included the assessments of the bank's head of digital asset research, Geoff Kendrick, stated that Bitcoin is now free of the price pressure brought by the past halving cycle.
“Thanks to increased investor inflows, Bitcoin has now moved past the 18-month downward cycle typically seen post-halving,” Kendrick said.
The Halving Cycle Has Diminished Its Impact
Halvings, when Bitcoin's mining reward is cut in half every four years, have historically been associated with large price spikes followed by sharp corrections.
However, according to Kendrick, the effects of the last halving, which took place in April 2024, are different this time because new dynamics such as ETFs and institutional purchases have come into play.
Standard Chartered therefore expects prices to continue their broadly upward trend, although it acknowledges that a correction is likely in September-October 2025.
2028 Target: $500,000
The bank also set a rather ambitious long-term price target for Bitcoin, predicting that if current dynamics continue, BTC could reach $500,000 by 2028.
ETF Outflows Could Be Temporary
Kendrick’s analysis comes as spot Bitcoin ETFs saw their first outflow of $342.3 million after 15 consecutive days of net inflows, representing just 7% of the $4.8 billion in inflows over the past 15 days.
Despite this, Kendrick stated that ETF and institutional purchases reached a total of 245,000 BTC in the second quarter of 2025, and that this level will be exceeded in both the third and fourth quarters.
*This is not investment advice.