Overview
- Bitcoin has climbed above $95,000 for the first time since February, supported by record weekly ETF inflows of $3.4 billion, with 93% directed toward bitcoin products.
- Standard Chartered's Geoffrey Kendrick predicts bitcoin will reach $120,000 this quarter, citing strategic asset reallocation, whale accumulation, and ETF flows.
- The U.S. Dollar Index has hit a new low of 97.92, with analysts attributing the decline to trade policy tensions and shifting global economic dynamics.
- Institutional investors and asset managers are increasingly viewing bitcoin as a safe-haven asset, with capital reallocating from gold and U.S. assets.
- Geopolitical fragmentation and economic uncertainty are being identified by BlackRock and other analysts as long-term drivers of bitcoin's appeal as an uncorrelated asset.