Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that Bitcoin is expected to rise to approximately $120000 in the second quarter of 2025, driven by factors such as US investors shifting towards non US assets. He pointed out that indicators such as the term premium of US treasury bond bonds at a 12 year high, the continued increase of whale address holdings, and the inflow of ETF funds all support the upward trend of Bitcoin. In addition, Kendrick maintains Bitcoin at 20% by the end of 2025