Standard Chartered says bitcoin may never fall below $100,000 again ‘if this week goes well’
Standard Chartered believes Bitcoin may never drop below $100,000 again if positive macro and geopolitical developments continue this week.Summary
Geoffrey Kendrick, Standard Chartered Bank’s global head of digital assets research, suggested that Bitcoin might never trade below $100,000 again if positive macro and geopolitical developments seen this week persist. He cited improving U.S.-China trade talks, which eased market fear, as a key factor, noting the bitcoin-gold ratio is climbing back up. Kendrick is watching for this ratio to break above 30 as a sign of fear ending. Further positive confirmation would involve significant fresh inflows into spot Bitcoin ETFs, potentially catching up to gold ETFs, and ultimately, a new all-time high for Bitcoin, which he believes signals the death of the halving cycle as the primary price driver. Additionally, an expected 25-basis-point rate cut from the FOMC meeting this week is viewed as positive for Bitcoin.
(Source：The Block)