Bitcoin Holds Near Two-Month High as ETF Inflows Surge, Standard Chartered Forecasts Q2 Record
Bitcoin has steadied near a two-month high, driven by significant inflows into U.S.-listed spot ETFs, which reached $3.06 billion, the highest since November. This surge contributed to an 11% gain over the past week, though momentum appears to be waning amid U.S.-China trade uncertainties.
Standard Chartered predicts Bitcoin will reach $120,000 in Q2 and potentially $200,000 by year-end, driven by a shift away from U.S. assets. Institutional buying, such as Strategy's purchase of 15,355 BTC, underscores growing confidence despite Bitcoin's correlation with equity markets rather than acting as a safe haven.
The Swiss National Bank rejected Bitcoin as a reserve asset due to volatility concerns, aligning with other central banks. Meanwhile, altcoins showed mixed performance, with Ether down 0.8% and XRP up 2.5%. Memecoins like $TRUMP saw gains, while Dogecoin fell 2.6%.
This summary captures Bitcoin's current trajectory, influenced by ETF trends, institutional investments, and broader market dynamics.
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