Standard Chartered "Bitcoin could hit an all-time high as early as next week"

Standard Chartered Bank said Bitcoin (BTC) could record a new all-time high as early as next week. The bank identified macroeconomic factors and inflows into spot Bitcoin exchange-traded funds (ETF) as the main drivers of the rally.

According to Crypto Briefing on the 3rd (local time), Standard Chartered said in a recent report, "Bitcoin is likely to surpass its previous peak in the short term," and "it could set a new all-time high as early as next week."

Bitcoin set an all-time high last August at about $124,128. That rally was led by rapid adoption by institutional investors. Standard Chartered has repeatedly issued optimistic outlooks on Bitcoin throughout this year, and in particular analyzed that the Trump administration's digital-asset-friendly policies are supporting mainstream adoption.

The report added, "With macroeconomic uncertainty, inflation concerns, and increased preference for alternative assets, Bitcoin's appeal is further strengthening." The spot Bitcoin ETF has, since its launch in January last year, encouraged the traditional financial sector's market entry and has played a key role in strengthening Bitcoin's price momentum this year.