Share this article
Bitcoin to Hit New All-Time High Around $120K in Q2, Standard Chartered Says
Strategic allocation away from U.S. assets is likely to be the catalyst for move to a new record.
Updated Apr 28, 2025, 8:33 p.m. Published Apr 28, 2025, 12:50 p.m.
What to know:
- Bitcoin could hit a new all-time high in the second quarter of this year, according to Standard Chartered's Geoff Kendrick.
- The move higher is likelly to fueled by investors moving out of U.S. assets.
- Kendrick reiterated his previous target of $200,000 by the end of the year.
Strategic allocation away from U.S. assets by investors could see bitcoin hit a new all-time high in the second quarter of the year, Standard Chartered's Geoff Kendrick said in a report Monday.
Kendrick sees the world's largest cryptocurrency as reaching $120,000 this quarter as he reiterated his previous target of $200,000 by the end of 2025.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin was trading around $95,300 at publication time.
Kendrick noted that the U.S. Treasury term premium, which is closely correlated to the bitcoin price, is at a 12-year high. Accumulation by whales has also been strong. In addition, bitcoin time-of-day analysis suggests that American investors may be looking for non-U.S. assets, he said.
Lastly, exchange-traded fund (ETF) flows in the last week suggest "safe-haven reallocation from gold into BTC," wrote Kendrick.
"Bitcoin may be a better hedge than gold against financial system risks," he added.
Read more: Tariffs, Trade Tensions May Be Positive for Bitcoin Adoption in Medium Term: Grayscale
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
