15.02.2025 16:54
A recent prediction from a prominent analyst suggests a potential upswing for Bitcoin this weekend, potentially reaching the $100,000 mark. Following a period of consistently negative returns, Geoffrey Kendrick of Standard Chartered believes favorable market conditions could trigger a significant price surge. He anticipates that even a modest positive movement could unlock substantial gains, driven by increased investor confidence and potentially significant ETF inflows.
After five consecutive weekends of price declines, a change in Bitcoin's trajectory appears imminent, according to Kendrick's analysis. This optimistic outlook hinges on the current market environment, notably the recent drop in U.S. 10-year Treasury yields below 4.5%. This decrease, he argues, creates a more appealing climate for riskier assets such as Bitcoin, reducing the attractiveness of higher-yield alternatives.
The interplay between interest rates and cryptocurrency performance is key to understanding Kendrick's prediction. Lower yields diminish the opportunity cost associated with holding non-interest-bearing assets like Bitcoin. This, in turn, could lead to increased demand and price appreciation. His forecast suggests that a small upward price movement could trigger substantial ETF investment, further accelerating the climb toward, and potentially beyond, $100,000 – possibly even reaching $102,500.
However, this positive forecast contrasts sharply with the recent volatility experienced by Bitcoin. The preceding weeks have been marked by negative news, including developments such as the DeepSeek revelations and ongoing tariff negotiations between Canada and Mexico. These events, according to Kendrick, created an unusual and unstable market environment, significantly impacting trading sentiment and contributing to price fluctuations. The current situation, he suggests, deviates from the typical market response to negative news, hinting at a potential for a significant market correction.
