Standard Chartered Sees Growing ‘Buy Bitcoin, Sell Gold’ Trend as $100K Test Nears

Standard Chartered sees investors shifting from gold to Bitcoin as safe-haven preferences evolve in global markets.

Geoffrey Kendrick expects Bitcoin may briefly dip under $100K before rebounding toward a $200K year-end target.

Rising ETF inflows and easing Fed policy could sustain Bitcoin’s recovery despite recent volatility and record liquidations.

Standard Chartered Bank says investors are increasingly rotating out of gold and into Bitcoin as global markets redefine traditional safe-haven strategies. The bank’s global head of digital assets research, Geoffrey Kendrick, said the “sell gold, buy bitcoin” flow could become a recurring market trend as institutions seek higher-yield alternatives. He added that this shift highlights Bitcoin’s growing role as a core portfolio asset, even amid tightening liquidity and geopolitical uncertainty.

Investors Rotate Into Bitcoin as Gold Weakens

According to Kendrick, the rotation between gold and Bitcoin has become more visible in recent trading sessions. A sharp gold selloff earlier this week coincided with a rebound in Bitcoin prices, suggesting capital movement toward digital assets

Kendrick said this trend might repeat as confidence in Bitcoin’s long-term value deepens, despite current price volatility. He emphasized that Bitcoin’s structure remains intact, even after its recent correction from the record high of $126,000 on October 6

The drop, he said, was fueled by renewed U.S.–China trade tensions and a record $19 billion liquidation across crypto markets. Still, the bank believes that this adjustment could create a fresh entry point for investors seeking exposure to digital assets.

Bitcoin May Dip Below $100K Before Rebound

Kendrick warned that Bitcoin could briefly slide below $100,000 before stabilizing, calling such a dip potentially “short-lived.” He noted that Bitcoin’s 50-week moving average, a technical level that has held since early 2023, is a key area to watch. He described this possible pullback as the “last time Bitcoin trades under $100,000,” suggesting that long-term investors should stay ready to buy the dip.

Liquidity conditions remain tight, he said, and the next market turning point may depend on when the U.S. Federal Reserve reacts by slowing or limiting quantitative tightening. Kendrick also said he is closely tracking gold-to-Bitcoin flows as signals of renewed accumulation, adding that such movements could confirm the formation of a new price base.

$200K Target Despite Volatility

Despite increased volatility, Standard Chartered maintained its $200,000 year-end Bitcoin price target and its $500,000 projection by 2028. Kendrick reaffirmed this outlook during the 2025 European Blockchain Convention in Barcelona, noting that continued ETF inflows and easing interest rates could sustain Bitcoin’s recovery.

He cited $477 million in net ETF inflows earlier this week as evidence of steady institutional demand. Bitcoin was trading at $108,200, down about by 4% in the past 24 hours. Kendrick said the bank expects ETF participation and macroeconomic alignment to remain the key drivers of Bitcoin’s next major rally.

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