[Standard Chartered: Bitcoin's Year-End Price May Hit $126,000, Previous $100,000 Target Too Conservative] Odaily Planet Daily News – Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that the prediction of Bitcoin reaching $100,000 by year-end might be too conservative, as the market could potentially retest the historical high of $126,000 before the end of the year. Geoff Kendrick mentioned on Friday that the recent rise in Bitcoin is primarily driven by short covering, while inflows into spot Bitcoin ETFs have also started to recover. Given the current low level of open interest in the market, more investors may re-enter as prices rise, providing further momentum for the rally. "For the first time this year, there’s a risk that my year-end $100,000 prediction might be too low," Kendrick said. Geoff Kendrick believes that Bitcoin's rebound momentum could accelerate further after October 6. Meanwhile, several market participants also believe that the bear market may be nearing its end. Swan Bitcoin CEO Cory Klippsten previously stated that Bitcoin might bottom out in October; Markus Thielen, founder of 10x Research, suggested that if Bitcoin closes above $63,000 in August, it could confirm the formation of a bear market bottom. (Cointelegraph)