Bitcoin$BTC
has surged back above the $100,000 mark for the first time in three months, igniting fresh debates about whether current upside targets are now outdated.
From Panic to Power Move
After peaking near $109,000 in January, Bitcoin experienced a significant correction, tumbling to just under $75,000 in early April. The drop came in response to President Trump’s Liberation Day announcement introducing aggressive tariffs on U.S. trading partners, triggering broad market panic. Altcoins were hit even harder, with Ethereum (ETH) and Solana (SOL) both plunging over 60% from their highs.
Since then, however, markets have staged a swift recovery. Traditional indexes like the Nasdaq and S&P 500 have joined crypto in rallying, buoyed by optimism surrounding a newly announced trade agreement between the U.S. and the U.K.
The Role of Institutional Flows
One major driver of Bitcoin’s$BTC 
rebound appears to be institutional capital. According to Standard Chartered’s Geoff Kendrick, it’s “all about flows” now. Spot Bitcoin ETFs have seen a surge in inflows recently—not just from hedge funds engaging in basis trades, but from real-money investors. Kendrick noted that basis trade activity has barely budged, signaling that much of the current buying may be genuine long exposure.
Additionally, upcoming 13F filings—where institutions disclose their ETF and major crypto-related stock holdings—are expected to confirm a broader trend of increased allocation to Bitcoin.
Rethinking the Targets
Kendrick, who previously set a Q2 price target of $120,000, now admits that may be too conservative. With momentum building and institutional confidence rising, the market could be heading toward even higher highs.
As the narrative shifts yet again, one thing remains clear: Bitcoin continues to defy expectations—and it’s doing so in a big way.
