#AbuDhabiStablecoin Bitcoin heading towards a new all-time high in the second quarter of 2025

$BTC Driven by a strategic reassignment away from U.S. assets, with several key indicators signaling that momentum is increasing.

"We expect a strategic reassignment of assets away from U.S. assets to trigger the next sharp rally in Bitcoin (BTC) in the coming months," said Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, in a note.

Kendrick sees Bitcoin rising from its current level of around $95,000 to about $120,000 this quarter, with gains continuing through the summer towards a year-end target of $200,000.

The bank notes a confluence of supporting factors. The U.S. Treasury term premium, a metric that has shown a close correlation with Bitcoin, is now at a 12-year high.

Additionally, exchange-traded fund (ETF) flows over the past week indicate a reassignment from gold to Bitcoin, signaling a shift in investor perception regarding safe-haven assets.

Meanwhile, Bitcoin "whales" — wallets holding more than 1,000 BTC — have been accumulating during the recent downturn and recovery.

"So-called 'whale' investors in Bitcoin have increased their holdings both during the price drop caused by tariffs and in the subsequent recovery driven by Fed independence risks," Kendrick noted.

He highlights that whales were also strong buyers of Bitcoin during previous periods of significant gains, such as Trump’s victory in the last elections, the approval of spot Bitcoin ETFs, and the collapse of Silicon Valley Bank.

Kendrick also emphasizes that the timing is critical for investing in Bitcoin, as most of the returns in recent years have come.