Commonplace Chartered‘s Geoffrey Kendrick on Thursday predicted that Bitcoin BTC/USD will attain a brand new all-time excessive within the coming days, forecasting a value vary of $112,000 to $130,000 for February and March.
Kendrick’s bullish outlook follows a latest market correction and is supported by varied elements, together with improved market positioning, optimistic regulatory developments and potential central financial institution adoption.
What Occurred: Kendrick famous that Monday’s market downturn, which was pushed by “DeepSeek worry,” resulted in $1.1 billion of lengthy Bitcoin positions being liquidated, which he believes has improved market positioning.
He additionally added that “if cheaper AI lowers inflation (on the margin) then threat property, like BTC, that don’t have anything to do with AI ought to profit.”
He additional famous that whereas final week’s information from the Donald Trump administration was considerably disappointing, the “stockpile” time period getting used as an alternative of “strategic reserve”, at the very least the SEC’s SAB 121 coverage is now gone, which can permit institutional flows to assemble tempo.
He additionally highlighted that the “stockpile” information will encourage different central banks to buy Bitcoin.
He highlighted that the Czech Nationwide Financial institution (CNB) is ready to vote on whether or not to allocate 5% of their €140 billion ($145 billion) reserves into Bitcoin.
Additionally Learn: CME Group Expands Crypto Choices With Choices On Bitcoin Friday Futures
He identified that, “the complete web influx to the US ETFs (in simply over 12 months) has been $38.5 billion. The CNB move can be 19% of that” and that, “At present costs this could see the CNB maintain 69,000 BTC.”
He additionally stated that The Swiss Nationwide Financial institution may additionally begin to purchase Bitcoin within the close to future.
Primarily based on these elements, Kendrick believes that Bitcoin is in a “purchase the dip” zone and is now searching for a break above the $109,000 excessive that was reached after the Trump inauguration.
“Above that I count on a $112,000-$130,000 vary for February/March,” he additional stated.
Lastly, he briefly talked about that there had been information concerning a possible Litecoin ETF, which has pushed up the worth of Litecoin LTC/USD by nearly 20%.
Learn Subsequent:
Picture created utilizing synthetic intelligence with Midjourney.
Market Information and Information delivered to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
