Bitcoin is gearing up for new heights. According to Jeffrey Kendrick, Head of Digital Assets Research at Standard Chartered, BTC could reach $120,000 in the second quarter and climb to $200,000 by the end of 2025. This optimism is supported not just by technical indicators but also by fundamental shifts in global investment strategies.
Yields and Correlations: Standard Chartered’s Perspective
As reported by The Block, Kendrick notes that the yield premium on 10-year U.S. Treasury bonds, which closely correlates with Bitcoin’s price, has reached a 12-year high. This suggests growing tension in the traditional debt markets, prompting investors to seek alternative stores of value.
One such alternative is BTC. Especially after Donald Trump’s announcement of a 90-day tariff delay for all countries except China. The market perceived this as a dovish trade policy, boosting demand for risk and alternative assets.
Whales Are Accumulating
The growing activity of “whales” — large BTC holders — is becoming a key indicator of an impending bullish momentum. According to Kendrick, following Trump’s tariff announcement, major Bitcoin wallets began accumulating BTC at an intensified pace. This may signal a strategic reallocation amidst global economic shifts and preparation for another institutional rally.
Moreover, signs of a capital shift from gold ETFs to Bitcoin ETFs are emerging. This reflects a trend where BTC is increasingly seen as “digital gold” — but with greater growth potential and transactional flexibility.
Institutions Step In
BlackRock’s Head of Digital Assets, Robert Mitchnick, confirmed: institutional interest in BTC ETFs is steadily rising.
– “Initially, ETF activity was driven by retail clients with positions over $100 million. Now, we’re seeing a different picture: the share of institutional investors and financial advisors is growing rapidly every quarter,” Mitchnick stated.
He explained that investors now view Bitcoin as an independent asset, not tied to the monetary policy of any one country — an effective hedge against global risks.
Mitchnick also commented on the possibility of altcoin ETFs under the new SEC Chairman, Paul Atkins. However, he cautioned that a “new regulatory framework will be introduced, which could complicate the launch of such products.”
U.S. Mining Policy Support
Bitcoin could get an additional boost from a new government initiative. U.S. Commerce Secretary Howard Lutnick announced that the Trump administration is actively supporting the expansion of crypto mining.
In particular, mining companies are being encouraged to build data centers and power stations near gas fields, reducing reliance on existing power grids and making Bitcoin mining cheaper and more sustainable.
– “This is a strategic move toward digital energy and sovereign control over hash rate,” Lutnick emphasized.
Amid geopolitical turbulence, energy sector reforms, and the rising role of institutions, Bitcoin is no longer a fringe investment. It is becoming a part of national economic strategies, with leading banks and funds laying the groundwork for a historic rally.
$200,000 by 2025 no longer sounds like fantasy. It may become a new reality — one where Bitcoin is firmly established as a global financial reserve and hedge against systemic risks.
