Bitcoin Forecast from Standard Chartered
In an interview with BeInCrypto, Jeff Kendrick, head of the digital asset research department at Standard Chartered, stated that Bitcoin is on the verge of a new record. This is indicated by the explosive inflow of funds into ETFs, the aggressive Strategy (formerly MicroStrategy), and the growing participation of institutional investors, he emphasized.
According to Kendrick, capital flows are the main factor positively influencing BTC dynamics. According to Glassnode, inflows into ETFs have significantly increased over the past two weeks. At the same time, Bitcoin has risen in price from $84,000 to $99,000.
"The rise in Bitcoin's price is currently entirely determined by capital flows, and they are multiplying; over the past three weeks, spot BTC ETFs have attracted $5.3 billion. The net inflow amounted to $4 billion," the expert said.
