PANews reported on April 28 that according to The Block, Geoffrey Kendrick, global head of digital assets at Standard Chartered Bank, said that Bitcoin is expected to hit a new high of about $120,000 in the second quarter of 2025, driven by the withdrawal of US capital and the continued increase in holdings by large investors. He maintained the target price of $200,000 at the end of the year, saying that now is the time to buy. Analysis pointed out that the high US Treasury term premium and ETF fund inflows further supported the upward trend of Bitcoin.