World financial institution Normal Chartered is bullish on Bitcoin for the remainder of the yr, citing rising company treasury shopping for and powerful exchange-traded fund (ETF) inflows.
Normal Chartered expects Bitcoin (BTC) to print new highs of $135,000 by the top of the third quarter after which break $200,000 by the top of the yr, the financial institution’s digital asset analysis head, Geoff Kendrick, stated in a Wednesday report shared with Cointelegraph.
“Due to elevated investor flows, we imagine BTC has moved past the earlier dynamic whereby costs fell 18 months after a ‘halving’ cycle,” Kendrick stated, including that the frequent halving pattern would have led to cost declines in September or October 2025.
The newest report reinforces Normal Chartered’s bullishness on Bitcoin, with the financial institution anticipating it to hit $500,000 a coin by 2028.
Bitcoin halving cycle is useless
In his new evaluation, Normal Chartered’s Kendrick centered on the potential impacts of the Bitcoin halving cycle, a worth sample related to BTC halving occasions, which happen about each 4 years.
Slicing the Bitcoin mining reward by 50% every halving, BTC halving occasions have been traditionally linked to each subsequent spikes within the worth and additional corrections.
Whereas the 2 earlier halving cycles in 2016 and 2020 led to Bitcoin costs falling in about 18 months after the halving, the influence of the most recent Bitcoin halving in April 2024 will doubtless be completely different as a result of new drivers like robust ETF and company shopping for, Kendrick prompt.
Associated: Crypto ETP inflows in H1 2025 down 2.7% from final yr’s $18.3B
“We anticipate costs to renew their uptrend, supported by continued robust ETF and Bitcoin treasury shopping for,” Kendrick wrote within the replace, emphasizing that each of those drivers have been absent within the earlier halving cycles.
On the similar time, Normal Chartered nonetheless doesn’t rule out that the worth could possibly be considerably uneven in late Q3 and early This autumn amid issues in regards to the correction sample from the earlier halvings.
Bitcoin ETFs see outflows after 15 days of inflows
Kendrick’s newest insights on the bullish influence of ETFs and company shopping for towards the strain from the halving cycle got here as spot Bitcoin ETF flows turned destructive after 15 days of inflows.
In accordance with knowledge from SoSoValue, US spot Bitcoin ETFs posted $342.3 million of outflows on Tuesday, marking their first outflows since June 6. The outflows accounted for 7% of the overall $4.8 billion inflows seen within the 15-day run.
In accordance with Kendrick, Bitcoin ETF flows and company treasury shopping for totalled 245,000 BTC in Q2. “We anticipate that degree to be exceeded in each Q3 and This autumn,” he added.
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