Bitcoin could be on the brink of a major rally, according to a bullish forecast from Standard Chartered’s Geoffrey Kendrick. In a new note published on April 28, Kendrick predicts that Bitcoin will surge to $120,000 in the second quarter of 2025, before climbing further to hit $200,000 by the end of the year.
Bitcoin: Whale Accumulation and Strategic Reallocation Fuel Optimism
Kendrick’s outlook is supported by several key factors: increasing BTC accumulation by whales, rising ETF inflows, and a shift in asset allocation away from U.S. bonds. Notably, the U.S. Treasury term premium—a metric that historically correlates with Bitcoin price movements—has reached a 12-year high, signaling strong demand for alternative assets like Bitcoin.
BTC’s past cycles have shown similar patterns, with sideways trading often leading to explosive price increases. The cryptocurrency is currently trading around $95,000, up nearly 7x from its lows in November 2022, reinforcing bullish sentiment.
Additionally, global banks such as Deutsche Bank and Standard Chartered are reportedly re-exploring crypto operations in the U.S., amid promises from former President Donald Trump to support the crypto industry if re-elected.
If Kendrick’s prediction holds, BTC would set a new all-time high at $120,000 in Q2 2025, setting the stage for further gains towards $200,000 by the end of next year.
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