Standard Chartered Bank expects Strategy may announce a large-scale Bitcoin purchase on Monday, with the market estimating the purchase volume could be between 320 and 3,200 coins. This forecast stems from the company's recent sale of 32 Bitcoins, and if the purchase scale far exceeds previous levels, market attention may quickly shift back to institutional demand.
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Key Takeaways
- Key points:
- Standard Chartered speculates that Strategy may announce the purchase of 320 or as many as 3,200 Bitcoins.
- Forecasts indicate that Bitcoin's price will reach $100,000 by the end of 2026 and $500,000 by 2030.
- If Strategy resumes large-scale Bitcoin hoarding, institutional demand may increase.
Standard Chartered Bank expects the strategy to revive its momentum, with Bitcoin testing vulnerable support levels
Before testing potential price support levels, the Bitcoin sell-off has already distinguished between determined and forced sell-offs. Geoffrey Kendrick, Head of Global Digital Asset Research at Standard Chartered Bank, pointed out that Strategy (NASDAQ: MSTR) sold 32 Bitcoins at a time when Bitcoin (BTC) was already under pressure, intensifying the weakness in the cryptocurrency market this week and confirming the market's criticism of the corporate Bitcoin reserve model.
Standard Chartered is not focused on this sell-off, but on the possible market reaction. Strategy sold 704 Bitcoins on December 22, 2022, for tax optimization, and bought another 810 Bitcoins two days later, setting a clear precedent for the bank to anticipate a new round of Bitcoin hoarding following this sell-off.
Kendrick wrote:
"I suspect the buying that follows the sell-off will be even more aggressive—I think the scale will be either 10x (+320 BTC) or 100x (+3200 BTC)."
This expectation makes Strategy's next disclosure report a key factor in determining the market's short-term direction. If you buy 320 BTC, it would be more than 10 times the recent sell-off volume; If 3,200 BTC are purchased, it would exceed 100 times that amount, strongly refuting the view that Strategy has shifted from buyer to seller.
Market speculation intensified after Executive Chairman Michael Saylor released a "Good Time to Add More Dots" and attached the Strategy Bitcoin tracking chart. Traders typically interpret this statement as a signal of potential accumulation. The company currently still holds 843,706 Bitcoins, which closely correlates MSTR's stock price with Bitcoin price fluctuations, future buying expectations, and subsequent buying that may offset the impact of recent sell-offs.
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The current price context makes this view even more convincing. Bitcoin's price held the low of $59,100, while short-term charts show oversold conditions and resistance in the $63,000 to $64,000 range, making Strategy's next move potentially decisive for traders focused on whether this rebound is a technical rally or a trend reversal.
Standard Chartered's macro forecast views the sell-off as painful but does not shake its core viewpoint. The bank forecasts Bitcoin will reach $100,000 by the end of 2026, rise to $200,000 in 2027, $300,000 in 2028, $400,000 in 2029, and reach $500,000 by 2030. The bank also forecasts that ETH will reach $4,000 by the end of 2026, then $10,000 in 2027, $18,000 in 2028, $28,000 in 2029, and $40,000 in 2030, reflecting ongoing market confidence in blockchain-based financial infrastructure. Kendrick wrote:
"I think when we look back at the end of 2026, when Bitcoin hits $100,000 and Ethereum hits $4,000, we'll say this is the buying range we've always been hoping for."