Bitcoin Surpasses $100,000 for First Time in Three Months
Bitcoin has surpassed $100,000 again, following a previous peak above $109,000 in January. After reaching nearly $75,000 due to trade-related panic, it has rebounded alongside traditional markets like the Nasdaq and S&P 500.
Key points:
- The recent rise is linked to a U.S.-UK trade deal.
- Standard Chartered's Geoff Kendrick emphasizes that current market dynamics focus on capital flows.
- Surging inflows into spot bitcoin ETFs indicate substantial investment interest, despite some offsetting basis trades.
- Institutional holdings reporting will begin next week, expected to show increased allocations by major players.
- Kendrick suggests his previous target of $120,000 for Q2 may be too conservative.