Bitcoin ( $BTC ) may surge to a fresh all-time high of $120,000 in Q2 2024 as investors increasingly diversify away from U.S. assets, according to a new report from Standard Chartered.

Key Predictions:

- Short-Term Target: $120,000 by end of Q2 2024

- Year-End Forecast: $200,000 by late 2025 (reiterating prior outlook)

- Current Trading Price: ~$95,300 (as of report release)

Supporting Factors:

1. U.S. Treasury Term Premium at 12-Year High

- Historically correlated with Bitcoin’s price movements.

2. Whale Accumulation Signals Strong Demand

- Large investors continue buying despite recent price gains.

3. American Investors Seeking Non-U.S. Exposure

- Time-of-day trading patterns suggest diversification trends.

4. ETF Flows Show Shift from Gold to Bitcoin

- "Bitcoin may be a better hedge than gold against financial system risks," said Geoff Kendrick, Head of FX and Digital Assets Research.

The analysis highlights Bitcoin’s growing appeal as a global macro asset, particularly amid concerns over U.S. fiscal stability and inflationary pressures.