💥Kendrick said 🕵️ the Global Head of Digital Asset Research at Standard Chartered that his "specific target" of $120,000 per Bitcoin during the second quarter "seems significantly achievable".

📝 In a note published on Thursday, Kendrick stated that the prevailing narrative around Bitcoin has changed again - this time, it’s all about flows.

🏦 The listed spot ETFs in the United States have seen inflows of $5.3 billion over the past three weeks, while short positions covered by hedge funds only increased by $1.2 billion. Kendrick pointed out that "the net actual flow exceeds $4 billion".

✨He also noted widespread accumulation 💰 by large investors, including (NASDAQ:MSTR), formerly known as MicroStrategy, which now holds 555,450 Bitcoins - about 2.6% of the total supply. Kendrick added that Strategy plans to raise $84 billion to buy more, which could push its ownership to over 6%.

✨The report highlighted other supportive signals, including outflows from gold ETFs to Bitcoin ETFs, an increase in the premium for U.S. Treasury futures, and buying activity by institutions such as the Swiss National Bank and the Bank of Norway.