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The analysis of crypto market trends often resembles a balancing act between rational anticipation and unpredictable volatility. Since the beginning of the year, bitcoin has been experiencing a marked downward trend during weekends, a trend that has persisted for five consecutive weeks. However, according to Geoffrey Kendrick, head of crypto research at Standard Chartered, this pattern could be broken as soon as this weekend. He anticipates a bullish reversal for bitcoin, supported by inflows into Bitcoin ETFs and an improvement in the macroeconomic climate. If this analysis proves accurate, the world’s top cryptocurrency could regain $100,000, with a short-term target of $102,500.
A turning point for bitcoin after five weekends of decline
Bitcoin investors have had to face a series of challenging weekends since the beginning of the year, marked by negative performance and increased selling pressure. According to data compiled by Standard Chartered, bitcoin has recorded negative returns over five consecutive weekends, a rare phenomenon that has contributed to weakening market confidence. Geoffrey Kendrick explains that this phenomenon has been amplified by unfavorable news, such as the DeepSeek incident that occurred at the end of January and the trade tensions between Canada and Mexico in early February.
This cycle, however, could be nearing its end. Kendrick emphasizes that current market conditions are more favorable for a bullish reversal. A key element of this hypothesis is based on the decline in 10-year U.S. Treasury yields, now below 4.5 %. “This level is generally favorable for risky assets like bitcoin,” the analyst states. He believes that a rebound this weekend could encourage new inflows starting Monday, particularly via Bitcoin ETFs.
$100,000 in sight, a market ready to react
Kendrick is not merely anticipating a simple technical rebound. According to him, a return of bitcoin above $100,000 could trigger a deeper dynamic, driven by growing interest from institutional investors. “Bitcoin is a Giffen good: the higher its price rises, the more demand increases,” he highlights, as he refers to an economic concept where rising prices stimulate buyer interest instead of stifling it.
The immediate stake therefore rests on the evolution of trading volumes starting Monday. If Bitcoin ETFs see an increase in capital inflows, this could strengthen the bullish trend and attract new buyers. In the long term, Kendrick maintains an ambitious forecast: $200,000 by the end of 2025, with a target of $500,000 by 2028. This scenario is based on increasing adoption of cryptocurrencies as a store of value, along with regulation that could foster a more stable framework for institutional investment.
As attention turns to the performance of bitcoin this weekend, the price movements in the coming days will provide an initial signal on the validity of this analysis. A decisive test for the market, to watch closely.
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Diplômé de Sciences Po Toulouse et titulaire d’une certification consultant blockchain délivrée par Alyra, j’ai rejoint l’aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l’économie, j’ai pris l’engagement de sensibiliser et d’informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu’elle offre. Je m’efforce chaque jour de fournir une analyse objective de l’actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
