Standard Chartered Bank: Bitcoin is expected to rise to $120,000 in Q2, now is the time to "buy in".

GateUser-6433627c · 2025-04-28T12:03:08+00:00

The global digital asset research director at Standard Chartered Bank predicts that Bitcoin will reach an all-time high of around $120,000 in the second quarter, believing that now is the "buying" opportunity. He pointed out that the reallocation of U.S. funds and several indicators support this view, including high U.S. Treasury yield premiums, American investors seeking non-U.S. assets, increased accumulation by Bitcoin holders, and some funds shifting from gold to Bitcoin.

GateUser-6433627c

2025-04-28 12:03:08

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On April 28, The Block reported that Geoffrey Kendrick, head of global digital asset research at Standard Chartered Bank, said that Bitcoin is on track to refresh its all-time high of about $120,000 in the second quarter, a trend that will be driven by a strategic reallocation of funds from U.S. assets to other areas, and now is the time to “buy”. In a new report released on Monday, Kendrick noted: “A number of indicators support the view that we believe Bitcoin will enter a new round of gains. The U.S. Treasury maturity premium (highly correlated with Bitcoin) is currently at a 12-year high. By trading session, U.S. investors may be looking to allocate to non-U.S. assets. At the same time, Bitcoin “whales” (large coin holders) are actively increasing their holdings. In addition, ETF flows over the past week have shown that some safe-haven funds are shifting from gold to bitcoin.”

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