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The examination of cryptocurrency market trends often resembles a delicate balance between logical expectations and unpredictable shifts. Since the year’s inception, Bitcoin has demonstrated a notable decline during weekends, a trend observable for five straight weeks. Nevertheless, Geoffrey Kendrick, the head of crypto research at Standard Chartered, suggests that this pattern might shift as early as this weekend. He forecasts a bullish turnaround for Bitcoin, driven by investments in Bitcoin ETFs and a positive shift in the macroeconomic landscape. If his projections are accurate, the leading cryptocurrency could reclaim the $100,000 mark, aiming for a short-term goal of $102,500.
A turning point for Bitcoin after five weekends of decline
Bitcoin investors have faced a series of daunting weekends since the start of the year, characterized by poor performance and heightened selling pressure. Data gathered by Standard Chartered indicates that Bitcoin has experienced negative returns over five consecutive weekends, a rarity that has eroded market confidence. Geoffrey Kendrick notes that this situation has been exacerbated by negative news, such as the DeepSeek incident from late January and trade tensions between Canada and Mexico in early February.
However, this cycle may be drawing to a close. Kendrick highlights that the current market conditions are more conducive to a bullish reversal. A crucial factor in this forecast is the drop in 10-year U.S. Treasury yields, which are now below 4.5%. “This level generally favors risky assets like Bitcoin,” the analyst explains. He believes a recovery this weekend could catalyze new inflows starting Monday, particularly through Bitcoin ETFs.
$100,000 in sight, a market ready to react
Kendrick does not merely predict a simple technical bounce. He argues that Bitcoin surpassing the $100,000 threshold could spark a more profound momentum, driven by increasing interest from institutional investors. “Bitcoin is a Giffen good: the higher its price escalates, the more demand there is,” he emphasizes, referring to an economic concept where rising prices trigger more buyer interest instead of suppressing it.
Therefore, the immediate focus rests on trading volume trends starting Monday. Should Bitcoin ETFs witness an influx of capital, this could reinforce the bullish trend and draw in new buyers. Long-term, Kendrick maintains an optimistic outlook: $200,000 by the end of 2025 and aspirations of $500,000 by 2028. This scenario hinges on the growing acceptance of cryptocurrencies as a store of value, coupled with regulatory developments that could create a more stable investment framework for institutions.
As attention pivots to Bitcoin’s performance this weekend, the price movements in the upcoming days will serve as an initial indicator of the validity of this analysis. A critical test for the market, one to observe closely.
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Graduated from Sciences Po Toulouse and holding a blockchain consultant certification from Alyra, I joined Cointribune in 2019. Convinced of the transformative potential of blockchain across numerous sectors of the economy, I am dedicated to raising awareness and informing the public about this ever-evolving ecosystem. My goal is to empower everyone to better understand blockchain and seize the opportunities it presents. I strive daily to provide an objective analysis of news, decode market trends, share the latest technological innovations, and contextualize the economic and societal stakes of this ongoing revolution.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Conduct your own research before making any investment decisions.
