Bitcoin on track for ‘best ever’ second half of the year

Bitcoin could be on track for its “best ever” second half of a year, thanks to growing institutional interest and aggressive treasury accumulation, according to Geoff Kendrick, Head of FX and Digital Assets Research at Standard Chartered.

In a note released Wednesday, just hours before Bitcoin surged past $109,000 for the first time in three weeks, Kendrick predicted the flagship cryptocurrency is on its way to breaking previous highs.

“Bitcoin to print new all-time highs in H2,” Kendrick wrote, forecasting that acquisitions in both Q3 and Q4 could each exceed the 245,000 BTC accumulated in Q2. The digital asset previously hit a record $111,814 in May, and Kendrick believes a new high is imminent.

Kendrick also noted that Bitcoin appears to have broken from its traditional post-halving trend of declining prices.

“Which would have led to price declines in September-October 2025,” he wrote, referencing historical patterns following Bitcoin halving events.

Still, he warned that volatility could return in the near term. “We think prices could be choppy in late Q3 and early Q4 amid concerns about this pattern being repeated,” he wrote. “However, we expect prices to resume their uptrend, supported by continued strong ETF and Bitcoin treasury buying.”