Standard Chartered: "Bitcoin to reach $120,000 by Q2... A good time to buy"

An analysis has emerged that Bitcoin (BTC) could reach $120,000 by the second quarter of this year.

According to The Block on the 28th (local time), Standard Chartered (SC) stated in a report that "now is the time to buy Bitcoin."

The report analyzed that investors want to move away from U.S. assets and purchase other assets. It noted that the U.S. Treasury yield premium, which is closely correlated with Bitcoin, hit a 12-year high.

The buying trend among U.S. investors has also increased. SC stated, "Since Trump's tariff policy announcement, Bitcoin has shown a greater increase than U.S. tech stocks," and "hourly trading analysis also shows that U.S. investors are moving away from U.S. assets to buy Bitcoin." Additionally, "Asian investors are also joining in buying Bitcoin, adding to the upward momentum," it added.

The movement of whale investors was also noted. The report stated, "Whale investors holding more than 1000 BTC have consistently bought Bitcoin as the market fell due to tariff and Federal Reserve (Fed) independence issues," and "whales have always shown large-scale buying before major surges in the past. Similar movements could occur this time as well."

It further added that "the inflow into Bitcoin spot ETFs is also positive." Last week, Bitcoin spot ETFs recorded a net inflow of about $3.1 billion. Furthermore, it reported that △increased interest from institutional investors △the ETF 13F report scheduled for mid-May △the possibility of U.S. stablecoin legislation passing are factors supporting the bullish outlook for Bitcoin.

Meanwhile, Standard Chartered previously projected that Bitcoin would reach $200,000 by the end of this year.