Standard Chartered: "Bitcoin to Attempt Rebound to $88,500 This Weekend"

Minseung Kang

Summary

Standard Chartered has predicted that Bitcoin could recover to the $88,500 level by this weekend.
Kendrick stated that Bitcoin is maintaining strength as a hedge amid instability in traditional financial markets.
He emphasized that Bitcoin is proving to be a useful asset in times of high uncertainty, and the most appropriate strategy is 'HODL.'

Global bank Standard Chartered has predicted that Bitcoin (BTC) could recover to the $88,500 level by this weekend.

According to The Block, a cryptocurrency-focused media outlet, on the 4th, Geoffrey Kendrick, head of digital asset research at Standard Chartered, stated, "While traditional financial markets (TraFi) are shaken by U.S. President Donald Trump's tariff policies, Bitcoin is maintaining relative strength." He explained, "Bitcoin usually moves like tech stocks, but at certain times it also acts as a hedge against traditional finance."

Kendrick predicted, "If it surpasses $85,000 after the employment data release, there could be room for further rise to $88,500 (the level before the tariff announcement)." He added, "With uncertainty growing, Bitcoin is proving to be a useful asset in various scenarios," and emphasized, "The most appropriate strategy now is simple. It's 'HODL.'"

BTC