$BTC "We expect that the strategic reallocation of assets from the US will trigger the next sharp rise in Bitcoin (BTC) in the coming months," said Jeff Kendrick, global head of digital asset research at Standard Chartered, in his analytical note.

Kendrick predicts Bitcoin will rise from the current level of around $95,000 to approximately $120,000 this quarter, with continued growth over the summer to a year-end target of $200,000.