Crypto News Today: Dalio Backs Bitcoin as Standard Chartered Sees Upside

Bitcoin is back in focus as investors weigh its potential role as a hedge against mounting U.S. debt risks, while analysts and market indicators suggest further price gains could be possible. In other developments, Standard Chartered said its $100,000 year-end Bitcoin forecast may be too conservative, while MANTRA’s native token plunged to a record low after the blockchain halted block production.

Bridgewater Associates founder Ray Dalio recommended that investors favor gold and a small Bitcoin allocation over bonds amid rising political and geopolitical tensions. He suggested allocating 10% to 15% of a portfolio to gold and overweighting both gold and Bitcoin relative to debt assets. Dalio estimated that a U.S. debt crisis could emerge in roughly three years unless policy changes, although he has previously described Bitcoin as an imperfect store of value and noted privacy and quantum-computing concerns.

Standard Chartered’s global head of digital asset research, Geoff Kendrick, said Bitcoin could challenge its all-time high of $126,000 before year-end, with the recovery potentially accelerating after Oct. 6. He attributed the latest rally largely to short liquidations and said spot Bitcoin ETF inflows had begun to recover. Low open interest could also give the market additional room to rise, increasing the risk that the bank’s existing $100,000 year-end target proves too low. Standard Chartered had cut that forecast from $150,000 in February.

MANTRA’s native token fell 18.5% from its 24-hour high to a new record low shortly before MANTRA Chain stopped producing blocks. The team announced a precautionary halt following an unexplained incident, adding to pressure on the project and highlighting the risks associated with blockchain outages.