Bitcoin has surged by 27% from its 2025 low, trading above $94,000. Analysts, including Geoff Kendrick from Standard Chartered, predict that it could hit $120,000 by mid-year, and even $200,000 by the end of 2025. A massive withdrawal of Bitcoin from exchanges and rising ETF investments are contributing to this bullish sentiment, amid a backdrop of changing global economic factors.
Bitcoin seems to be on an upward trajectory, enjoying a notable 27% increase since it hit a 2025 low of $74,500. Traders are pulling Bitcoin off exchanges at record rates, leading analysts to speculate that a fresh all-time high could be around the corner. With Bitcoin trading above $94,000 on Wednesday, the market is buzzing with optimism.
Geoff Kendrick, leading digital assets research at Standard Chartered, is particularly bullish. In a recent note, he forecast a potential peak of $120,000 by the second quarter, followed by an eye-popping target of $200,000 by year’s end. He pointed to several key factors that could drive this growth, notably increasing purchases from large investors or “whales,” as well as a notable shift in investments from gold to Bitcoin.
Recent data from CryptoQuant shows that almost $16 billion worth of Bitcoin has been withdrawn from exchanges, with the current Bitcoin balance on exchanges now down to just 13% of its circulating supply – a significant drop since December 2023. Also noteworthy, Bitcoin exchange-traded funds (ETFs) saw inflows of nearly $3 billion last week. Such a surge has exacerbated the supply strain, making it difficult for some analysts at Bernstein to maintain a bearish outlook on Bitcoin.
The cryptocurrency seems to be gaining traction despite external pressures, including fluctuations in US trade policies under President Trump. Arthur Hayes, co-founder of BitMEX, noted that Bitcoin appears to be resilient against such market disruptions. He claims that Bitcoin has effectively decoupled from tech stocks and signifies an “up only” phase similar to what is seen in gold markets.
With traders increasing their bullish positions, options data reveals a strong preference for short-dated contracts. There’s over $437 million in bets riding on Bitcoin reaching $110,000 by June, showcasing the market’s expectation of a quick recovery and further rallies.
Osato Avan-Nomayo, our correspondent based in Nigeria, follows developments in decentralized finance and tech. If you have any tips, feel free to reach out at [email protected].
