Standard Chartered Bank expects that driven by capital outflows from U.S. assets, BTC will reach a peak of around $120,000 in the second quarter, and recommends "buy now."

Standard Chartered Bank points out several factors supporting the bullish trend of Bitcoin:

- The term premium on U.S. Treasury bonds (the extra yield investors require for holding long-term bonds) is at its highest level in 12 years, indicating increased volatility and driving funds into alternative assets like Bitcoin.

- Trading time analysis shows that U.S. investors are shifting capital towards foreign assets.

- The accumulation by "whales" remains strong.

- ETF fund flows indicate that investors are shifting from gold to Bitcoin.