Bitcoin Set for Quick Run to $135K and Beyond: Standard Chartered

Bitcoin (BTC) has ripped astir 13% this week, surging Friday to conscionable shy of a caller grounds of $124,500.

With that ceiling astir cleared, a speedy determination to $135,000 could beryllium successful the cards, according to Standard Chartered caput of integer plus probe Geoffrey Kendrick.

In a enactment published connected Friday, Kendrick argued that the U.S. authorities shutdown is playing a bigger relation successful markets than successful past episodes supporting bitcoin's rally. During the 2018-2019 shutdown, BTC traded successful a antithetic context. Now, the largest crypto has been intimately correlated with U.S. authorities risk, measured by the U.S. Treasury word premiums, a narration that suggests the uncertainty astir the shutdown acts arsenic a bullish operator this time.

Traders connected prediction marketplace Polymarket presently springiness much than a 60% accidental that the shutdown lasts 10–29 days. Kendrick forecasted BTC volition proceed to emergence passim that period.

Kendrick besides highlighted a coming displacement successful ETF capitalist behavior. While golden ETFs person precocious outperformed their BTC counterparts with golden pushing to grounds prices, spot bitcoin ETF flows are poised to drawback up providing tailwind for the asset, the study said.

Of the $58 cardinal successful nett BTC ETF inflows truthful far, $23 cardinal has travel successful 2025, helium said. This week alone, they attracted implicit $2.25 cardinal without the Friday session.

Kendrick projected that the vehicles could propulsion successful different $20 cardinal capitalist superior by year-end – capable to support his $200,000 year-end BTC terms people successful play.