[Standard Chartered Bank expects Bitcoin to briefly drop below $100,000 before hitting a new high] On Wednesday local time, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, stated that as investors react to trade conditions, Bitcoin may briefly drop below the $100,000 mark before reaching a historical high. In the report, he indicated that a drop below $100,000 is almost inevitable, but the duration of the decline may not be long. He reiterated that the price target for Bitcoin by the end of this year remains $200,000, implying a potential doubling in the coming months. As of the time of writing, Bitcoin is priced at approximately $107,900, down about 12% from its historical high of $126,000 over the past 16 days, affected by a sell-off driven by "tariff pressure and panic sentiment." Kendrick pointed out that if Bitcoin's price drops back into the five-digit range, it could be the last time it falls below the psychological level of $100,000, but no one can accurately predict where it will drop before finding a bottom. Historically, October and November are usually the strongest months for Bitcoin, with average increases of 19.8% and 46% respectively since 2013, giving rise to the term "Uptober," but the market structure has significantly changed in recent years. Since peaking two weeks ago, Bitcoin briefly fell to $104,800, and after the U.S. White House announced the implementation of "reciprocal" tariffs in April this year, it also dipped to $76,300. Kendrick's report noted that gold has outperformed Bitcoin in recent months, but this Tuesday, the trend seems to have turned, with gold recording its largest single-day drop in over a decade. He mentioned that the sharp drop in gold coincided with a strong rebound in Bitcoin during the day, possibly reflecting a "sell gold, buy Bitcoin" behavior, and expects that this type of capital flow will increase in the medium term, helping to form a bottom for Bitcoin. Several analysts stated on Tuesday that with the easing of geopolitical tensions and strong third-quarter earnings from U.S. stocks, Bitcoin has recently outperformed gold. One analyst mentioned that the inflation data to be released this Friday could be a key variable affecting market direction.

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