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A slight increase in Bitcoin’s price on February 15–16 could trigger ETF inflows when traditional markets open on Monday, pushing the leading cryptocurrency to $100,000 and $102,500, reports The Block, citing Standard Chartered analysts.
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Recent weekends have been challenging for digital gold, but this trend is changing, according to Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered.
In his view, negative events have already played out, and the 10-year U.S. bond yield is below 4.5% this week — a positive signal for risk assets like Bitcoin.
As these factors unfold, Bitcoin will first reach $100,000 and then $102,500. Kendrick believes this rally could lead to even greater demand and further upward momentum.
At the time of writing, Bitcoin is trading at $97,260 with a market capitalization of $1.93 trillion. Over the past 24 hours, the asset’s price has declined by approximately 0.4%.
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Earlier this month, Standard Chartered analysts described market conditions as “favorable” for Bitcoin.