Bitcoin Eyes $100K as ETF Inflows Loom

Bitcoin, the world's leading cryptocurrency, is expected to reverse its recent weekend decline and potentially test the $100,000 mark, according to Geoffrey Kendrick, the Global Head of Digital Asset Research at Standard Chartered Bank. In a recent analysis, Kendrick highlighted that Bitcoin has experienced five consecutive weekends of declines, largely due to adverse news events affecting market sentiment.

Kendrick expressed optimism that a modest uptick this weekend could stimulate significant ETF inflows on Monday, potentially propelling Bitcoin towards the $100,000 mark and even testing the key level of $102,500. He believes that the bearish narratives have largely been absorbed by the market, and a drop in the 10-year U.S. Treasury yield below 4.5% could further bolster Bitcoin's recovery trajectory, creating a favorable environment for risk assets.

Kendrick's audacious forecasts suggest that as market dynamics evolve, Bitcoin may see substantial appreciation. He predicts that Bitcoin could reach $200,000 by 2025 and escalate to $500,000 by the close of 2028. His bullish outlook underscores the growing institutional interest and diversification within investor portfolios, positioning Bitcoin as a prominent player in the digital asset landscape.