Standard Chartered stated that its target price for Bitcoin in the second quarter of $120,000 may prove to be too low.

According to the bank, the net inflow of funds into spot Bitcoin ETFs over the past three weeks has exceeded $4 billion, considering hedge fund-based operations.

Analyst Jeff Kendrick writes that Bitcoin Strategy holdings may increase to more than 6% of the total future supply of the cryptocurrency.

Bitcoin (BTC) is preparing to reach a new all-time high, with investment flows now being the dominant driving force of the market, according to data from Standard Chartered (STAN).

The investment bank stated in its email comments on Thursday that over the past three weeks, U.S. spot Bitcoin exchange-traded funds (ETFs) have seen an inflow of $5.3 billion.