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Bitcoin could hit a new all-time high in the second quarter of this year, according to Standard Chartered's Geoff Kendrick.
The move higher is likelly to fueled by investors moving out of U.S. assets.
Kendrick reiterated his previous target of $200,000 by the end of the year.
Strategic allocation away from U.S. assets by investors could see bitcoin hit a new all-time high in the second quarter of the year, Standard Chartered's Geoff Kendrick said in a report Monday.
Kendrick sees the world's largest cryptocurrency as reaching $120,000 this quarter as he reiterated his previous target of $200,000 by the end of 2025.
Bitcoin was trading around $95,300 at publication time.
Kendrick noted that the U.S. Treasury term premium, which is closely correlated to the bitcoin price, is at a 12-year high. Accumulation by whales has also been strong. In addition, bitcoin time-of-day analysis suggests that American investors may be looking for non-U.S. assets, he said.
Lastly, exchange-traded fund (ETF) flows in the last week suggest "safe-haven reallocation from gold into BTC," wrote Kendrick.
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Hong Kong’s Securities and Futures Commission (SFC) has officially authorized licensed virtual asset trading platforms to offer staking services. This move aims to reinforce the city’s status as a leading hub for digital assets in the Asia-Pacific region.
The announcement was made on Monday, 7 April 2025, in tandem with a keynote speech by SFC Executive Director Christina Choi at the 2025 Hong Kong Web3 Festival.
Staking, where users lock their crypto holdings to support blockchain operations in exchange for rewards, will now be allowed under strict regulatory oversight.
The SFC’s updated guidelines require licensed platforms to retain custody of staked assets and to seek prior approval before offering staking to users. Platforms must also maintain control over all mechanisms related to withdrawals.
The SFC’s circular emphasizes the need for transparency regarding staking-related risks. These include slashing penalties, unstacking procedures, lock-up periods, and possible vulnerabilities such as hacking or network inactivity.
This regulatory update follows a broader roadmap introduced by the SFC in February, which aims to expand investor access to digital assets, strengthen oversight, and widen the scope of tradable virtual assets.
Hong Kong has been a pioneer in regulated digital finance in Asia. In April 2024, it became the first jurisdiction in the region to approve spot Bitcoin and Ethereum ETFs.
A recent study by financial giant State Street projects that Hong Kong’s digital asset market could exceed $700 billion this year, potentially overtaking Japan as Asia’s largest ETF market.
“Just as the floppy disk transformed how we stored information, blockchain has the potential to rewrite the rules of finance,” Choi remarked.
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USDT Tether has witnessed a significant surge in on-chain activity in recent weeks, which could signal potential buying pressure following the latest crypto dip.
Market intelligence platform Santiment says on-chain data related to Tether Tether
usdt
0.01% Tether points in this direction.
In particular, analysts at the on-chain and social metrics monitoring platform believe a spike in USDT volume indicates a shift in trader dynamics as they look to pounce on the available opportunity.
In the market, major price drops often see traders retreat to top stablecoins, using the loaded-up buying power to flock into Bitcoin Bitcoin
btc
2.07%
Bitcoin and other top coins when the opportunity arises. Data Santiment has collated shows USDT recorded a six-month high for the number of wallets making transfers in a single day.
According to the analysts, the rise in buying pressure has often aided the crypto market’s recovery. Mainly, this is because during sell-offs, stablecoins such as USDT and USDC USDC
usdc
-0.01%
USDC come in handy. Traders worried about potential dumps often cash out, taking stablecoins as potential store-of-value assets. When sentiment flips, these offer an opportunity to scoop up profitable deals.
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A disturbing scandal has unfolded in the cryptocurrency world, with Nathan Browne at the center of allegations regarding his exploitation of Errol Musk, father of tech billionaire Elon Musk, in the controversial MUSKIT token project.
Nathan Browne is a business partner of Errol Musk in the MUSKIT cryptocurrency project. Even though Nathan Browne serves as tech consultant in this high-profile cryptocurrency venture, there is limited public information available about his qualifications or professional history.
The saga began when Errol Musk, in an act of kindness, helped Browne recover from significant gambling losses at a casino. This led to a long-standing relationship, with Browne remaining close to Musk. Nathan Browne has been seen with a luxury car at times, only for it to disappear later. However, Browne’s financial instability and questionable practices have now come to light, casting a shadow over their association.
Browne’s alleged scam reached its peak when he connected Errol Musk to the MUSKIT team for a token launch. The MUSKIT team launched the MUSKIT token on December 6, 2024, using the Pump.fun platform. Immediately after the launch, the team reportedly purchased a large amount of tokens and distributed them across hundreds of addresses. On December 14, they allegedly conducted a coordinated sell-off, estimated to have netted over $20 million in profits. The MUSKIT token experienced a dramatic pump-and-dump on February 5, 2025, raising serious concerns about potential fraud.
Errol Musk has now come forward with alarming allegations about Browne’s deceptive business practices. He stated:
“I knew that Nathan (X account @N8E_Browne) calls companies worldwide, claiming he knows me and my sons. They then pay for his travel to meet them. He presents himself as a representative of the Musk family just because he knows me. He’s been doing this for quite a while, but it hadn’t caused me any harm, so I never worried about it.
He asked me for my signature to use on all documents — which is scary. Nobody does that, but he said it was just for convenience. If it weren’t for that spike (of MUSKIT), I wouldn’t be concerned. Many media outlets interviewed me, and they called it (MUSKIT) a scam.”
The extent of Browne’s alleged deception became apparent during a meeting in Dubai, where the MUSKIT team reportedly treated Musk poorly, emphasizing their coverage of his travel expenses while offering him no compensation or tokens.
When confronted about the controversy, Nathan Browne responded dismissively, further implicating himself: “That’s life. The coin issuer @RashidAjamihis complained that he was promised the Musk family would tweet about MUSKIT. Since the family didn’t tweet, Errol didn’t receive any coins.”
Errol Musk has now distanced himself from the project, stating, “Any coin or token named ‘Musk Institute’ or anything similar is not affiliated with us.”
This incident serves as a stark reminder of the risks associated with celebrity-affiliated cryptocurrency projects and the importance of due diligence in the volatile crypto market. As investigations into the MUSKIT token and Nathan Browne’s activities continue, it appears that Browne may have orchestrated an elaborate scheme to exploit Errol Musk’s name and connections for personal gain.
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Bitcointalk Username: olori 4
Telegram Username: @Ibix1
Campaign Category Participated: Telegram
Metamask or ETH Wallet Address:
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Thanks to Amepay Team, though the bounty payment was delayed but I eventually got all my rewards
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