Bitcoin Could Surge to $120,000 in Q2, Fueled by Shift Away from U.S. Assets, Says Standard Chartered
Bitcoin is set to reach a new record of $120,000 in the second quarter of 2025, according to Geoff Kendrick from Standard Chartered. The rally is expected to be driven by a strategic move by investors away from U.S. assets, Kendrick wrote in a report on Monday, reiterating his previous forecast of $200,000 by the end of this year.
Bitcoin was trading at around $95,300 at the time of writing.
Several factors are behind Kendrick’s prediction. The U.S. Treasury term premium, which is closely linked to Bitcoin’s price movements, has surged to a 12-year high. In addition, large investors, known as Bitcoin “whales,” have been actively accumulating the cryptocurrency. Kendrick also pointed out that Bitcoin’s trading patterns suggest that U.S. investors are increasingly diversifying into non-U.S. assets.
Kendrick also noted that the latest trends in exchange-traded funds (ETFs) show a movement of capital from gold to Bitcoin, indicating that the cryptocurrency is becoming a popular “safe haven.”
“Bitcoin may be better suited than gold to protect against financial system risks,” Kendrick said.
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