Bitcoin’s recovery may extend toward its $126,000 all-time high before year-end, with Standard Chartered’s Geoffrey Kendrick warning that his $100,000 forecast may prove too conservative. Kendrick, global head of digital assets research at Standard Chartered Bank, said the Aug. 19-21 rally produced the largest bitcoin short-liquidation event in Coinglass data dating to June 2021, with bitcoin short liquidations approaching $1.44 billion. U.S. spot bitcoin ETFs also returned to strong net inflows, attracting about $1.92 billion over five trading sessions through Aug. 21. Kendrick linked the move to forced buying, renewed longer-term demand and catalysts including expanded U.S. Treasury buybacks and a White House crypto event led by President Donald Trump. He said comparatively low futures open interest and a tendency among long-term investors to buy more as prices rise could support further gains. Standard Chartered previously cut its year-end bitcoin target to $100,000 from $150,000 in February, while its longer-range outlook calls for bitcoin to reach $500,000 and ether $40,000 by 2030.