Bitcoin to $120,000: Standard Chartered Predicts Next BTC Rally

As indicated in a recent US Crypto News publication, Bitcoin price remains on course to the target objective of the falling wedge pattern.

Welcome to the US Morning Crypto News Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee to see expert opinions on what the future holds for Bitcoin (BTC) amid renewed institutional interest.

Meanwhile, its market peer, gold, is no longer the only go-to investment in times of uncertainty.

Bitcoin to $120,000: Standard Chartered Predicts Next BTC Rally

As indicated in a recent US Crypto News publication, Bitcoin price remains on course to the target objective of the falling wedge pattern.

After overcoming the resistance at $94,000, BTC is confronting immediate resistance at $95,765. A decisive candlestick close above this roadblock could clear the path for further upside, with Bitcoin price potentially completing the forecasted 20% climb to $102,239.

This optimism comes as Bitcoin emerges as a potential beneficiary amid global trade tensions.

US tariffs are sparking capital flight and market volatility.

Against this backdrop, analysts are already predicting a major revaluation of Bitcoin. They cite growing liquidity and global conditions, elements that suggest a shift away from dollar-dependent assets.

BeInCrypto contacted Standard Chartered for insight into the current Bitcoin market outlook. Interestingly, the bank forecasted a breakout Bitcoin rally mirroring its post-US election surge, with a Q2 price target of $120,000 now in sight.

According to Standard Chartered Head of Digital Asset Research Geoff Kendrick, Bitcoin’s price is primed for a rally similar to its dramatic rise following the US presidential election in November 2024.

The pioneer crypto hit a record high of $103,713 the following month.

Kendrick pointed to accelerating US spot Bitcoin ETF (exchange-traded funds) inflows, particularly when contrasted with declining gold ETP (exchange-traded product) inflows.

“The last time the gap between Bitcoin and gold ETF flows was this wide was during the week of the US election,” Kendrick told BeInCrypto.

According to Kendrick, Bitcoin is catching up to gold, with the king of crypto already serving as a better hedge amid strategic asset reallocations away from the US.

This aligns with another recent US Crypto News publication that highlighted Bitcoin as a hedge against traditional finance (TradFi) and US Treasury risk.

With this, the Standard Chartered executive maintains a bullish Q2 target for the largest digital asset by market capitalization.

“I look for a fresh all-time high of $120,000 in Q2, then on to my $200,000 end-year forecast,” Kendrick added.

Indeed, Standard Chartered recently predicted that Bitcoin would hit a new all-time high, forecasting $200,000 by 2025 and $500,000 by 2028.

Chart of the Day

This chart compares investment flows into two financial instruments, Bitcoin ETFs and Gold ETPs. It shows higher investor interest and better performance in the former compared to the latter.

Byte-Sized AlphaCrypto Equities Pre-Market Overview