Standard Chartered is reconsidering its US$120,000 BTC forecast for Q2 2025:
“I apologise that my USD120k Q2 target may be too low,”
Stan Chart see the crypto heading higher, citing:
- strategic asset reallocation away from US assets
- accumulation by whales
- dominant story for Bitcoin has changed … 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.
Stan Chart note flows:
- US$5.3bn inflows to U.S. spot bitcoin ETFs over the last three weeks
- Strategy increasing bitcoin purchases
- Abu Dhabi sovereign wealth fund holding BlackRock’s spot Bitcoin IBIT
- Swiss National Bank reportedly holding shares of MSTR, often seen as a leveraged proxy for bitcoin
This article was written by Eamonn Sheridan at www.forexlive.com.
