Overview
- Bitcoin is trading in the upper $80,000s to mid-$90,000s after briefly peaking at $88,400 over the weekend, supported by continued dollar weakness.
- The U.S. Dollar Index (DXY) recently hit a low of 97.92, reflecting trade tensions and shifting investor sentiment toward alternative assets.
- Institutional investors poured $3.4 billion into crypto products last week, marking the third-largest weekly inflow on record, according to CoinShares.
- Standard Chartered's Geoffrey Kendrick predicts Bitcoin could hit $120,000 in Q2, citing strong ETF inflows, whale accumulation, and reallocations from gold.
- BlackRock's Jay Jacobs highlights geopolitical fragmentation as a key driver for Bitcoin's rise, positioning it as an uncorrelated asset in volatile markets.