Standard Chartered has projected that Bitcoin could reach $135,000, driven by robust institutional ETF inflows and a departure from the usual post-halving decline pattern. The bank reported Bitcoin trading above $120,000, bolstered by $58 billion in net ETF inflows this year, including $23 billion in 2025 alone. Geoff Kendrick, the bank's Global Head of Digital Assets Research, pointed to current market conditions, such as U.S. government risk dynamics, as factors influencing this trend. The bank also suggested that continued institutional demand could propel Bitcoin prices toward $200,000 by the end of the year if inflows persist and risk premia remain high.