Bitcoin It has shattered about 13% this week, increasing on Friday for just a new record of $ 124,500.
With that almost clear roof, a rapid movement at $ 135,000 could be on the cards, according to the head of digital assets Research Standard Chartered Geoffrey Kendrick.
In a note published on Friday, Kendrick argued that the closure of the United States government is playing a more important role in markets than in past episodes that support Bitcoin’s rally. During the 2018-2019 closure, BTC negotiated in a different context. Now, the largest cryptography has been closely correlated with the risk of the United States government, measured by the premiums of the United States Treasury term, a relationship that suggests that uncertainty around the closure acts as a bullish driver this time.
Merchants in the Polymket prediction market currently give more than 60% chance that the closure will last 10 to 29 days. Kendrick predicted that BTC will continue to increase during that period.
Kendrick also highlighted an upcoming change in the behavior of the ETF investor. While the Golden ETFs have recently surpassed their BTC counterparts with gold for registered prices, Bitcoin Spot’s ETF flows are prepared to catch up by providing a tail wind for the asset, according to the report.
Of the $ 58 billion in net tickets of ETF BTC so far, $ 23 billion have arrived in 2025, he said. Only this week, they attracted more than $ 2.25 billion without Friday’s session.
Kendrick projected that vehicles could obtain another capital of investors of $ 20 billion by the end of the year, sufficient to keep at stake their objective BTC price of the year of the year of $ 200,000.
