Bitcoin Could Extend Gains After Hitting Record High -- Market Talk

Dow Jones
2025/05/22

1107 GMT - Bitcoin looks set to rise further after hitting a record high earlier, Standard Chartered's Geoff Kendrick says in a note. The U.S. Treasury term premium remains high, meaning investors are increasingly wary about long-dated bonds. This is supporting bitcoin as it has a positive correlation to the term premium, Kendrick says. Furthermore, inflows into U.S. spot bitcoin exchange-traded funds are rising. Strategy continues to purchase more bitcoin and recent data show broadened government buying of bitcoin proxies. Meanwhile, the U.S. has advanced a bill for stablecoin regulation. Standard Chartered expects bitcoin to rise to $120,000 by quarter-end, $200,000 by end-2025 and $500,000 by end-2028. Bitcoin rises 2.3% to $110,768 after earlier reaching a high of $111,862, according to LSEG. (renae.dyer@wsj.com)

 

(END) Dow Jones Newswires

May 22, 2025 07:07 ET (11:07 GMT)

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