Bitcoin To Hit Up To $130,000 In The Next Weeks: Standard Chartered

Standard Chartered‘s Geoffrey Kendrick on Thursday predicted that Bitcoin BTC/USD will reach a new all-time high in the coming days, forecasting a price range of $112,000 to $130,000 for February and March.

Kendrick's bullish outlook follows a recent market correction and is supported by various factors, including improved market positioning, positive regulatory developments and potential central bank adoption.

What Happened: Kendrick noted that Monday’s market downturn, which was driven by “DeepSeek fear,” resulted in $1.1 billion of long Bitcoin positions being liquidated, which he believes has improved market positioning.

He also added that "if cheaper AI lowers inflation (at the margin) then risk assets, like BTC, that have nothing to do with AI should benefit."

He further noted that while last week's news from the Donald Trump administration was somewhat disappointing, the "stockpile" term being used instead of "strategic reserve", at least the SEC’s SAB 121 policy is now gone, which will allow institutional flows to gather pace.

He also highlighted that the “stockpile” news will encourage other central banks to purchase Bitcoin.

He highlighted that the Czech National Bank (CNB) is set to vote on whether to allocate 5% of their €140 billion ($145 billion) reserves into Bitcoin.

Also Read: CME Group Expands Crypto Offerings With Options On Bitcoin Friday Futures

He pointed out that, “the entire net inflow to the US ETFs (in just over 12 months) has been $38.5 billion. The CNB flow would be 19% of that” and that, “At current prices this would see the CNB hold 69,000 BTC.”

He also said that The Swiss National Bank may also start to acquire Bitcoin in the near future.

Based on these factors, Kendrick believes that Bitcoin is in a “buy the dip” zone and is now looking for a break above the $109,000 high that was reached after the Trump inauguration.

“Above that I expect a $112,000-$130,000 range for February/March,” he further said.

Finally, he briefly mentioned that there had been news regarding a potential Litecoin ETF, which has driven up the price of Litecoin LTC/USD by almost 20%.

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Image created using artificial intelligence with Midjourney.