Standard Chartered’s head of digital assets, Geoffrey Kendrick, issued a notable revision to his bitcoin outlook on Thursday, acknowledging that the cryptocurrency’s recent surge had surpassed his expectations. With bitcoin trading above $100,000 and continuing to attract large-scale institutional investment, Kendrick suggested that his previous forecast may no longer reflect the market’s strength. He wrote in an email to clients:

I apologise that my USD120K Q2 target may be too low.

Kendrick’s updated outlook reflects a sharp reassessment of market conditions as BTC continues its aggressive rally, recently surpassing $100K. His prior projection, issued last month, anticipated that supportive macroeconomic shifts and large-scale investor buying would lift bitcoin to record highs by mid-year. The analyst said at the time: “We expect these supportive factors to push BTC to a fresh all-time high around USD 120,000 in Q2. We see gains continuing through the summer, taking BTC-USD towards our year-end forecast of 200,000.”

The price level that once appeared ambitious now “looks very achievable,” he said on Thursday, pointing to shifting market dynamics and rising institutional interest as primary drivers. Kendrick opined:

The dominant story for bitcoin has changed again. It was correlation to risk assets … It then became a way to position for strategic asset reallocation out of US assets. It is now all about flows. And flows are coming in many forms.

The Standard Chartered head of digital assets attributed the upward momentum to $5.3 billion of net inflows into U.S. spot bitcoin exchange-traded funds (ETFs) over the past three weeks. He pointed to notable institutional activity as further confirmation of this trend, referencing software intelligence firm Microstrategy (Nasdaq: MSTR) increasing its bitcoin holdings, Abu Dhabi’s sovereign wealth fund taking a position in Blackrock’s IBIT bitcoin ETF, and the Swiss National Bank buying shares in Microstrategy.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。