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.

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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.

"Bitcoin may be a better hedge than gold against financial system risks," he added.

Read more: Tariffs, Trade Tensions May Be Positive for Bitcoin Adoption in Medium Term: Grayscale

Bitcoin Price Could Hit $120K as Investors Flee U.S. Assets, Standard Chartered Says

A closely followed analyst believes that the crypto markets are primed for a corrective move following strong rallies over the past couple of weeks.

Pseudonymous analyst Altcoin Sherpa tells his 245,200 followers on the social media platform X that he thinks “a dip is going to come soon,” but he doesn’t see any reason to be super bearish once the correction takes place.

According to the analyst, a correction should provide an opportunity for investors to enter the crypto market before another leg up.

Should a marketwide pullback materialize, Altcoin Sherpa says he plans to accumulate five altcoins.

“Coins I want to buy:

BONK ($0.00001600s)

Fartcoin ($0.85)

POPCAT ($0.33)

HYPE ($15-$16s)

GUN ($0.055s)

Loads of others too, but those are on my short list for now.”

Looking closer at the memecoin Fartcoin, the trader notes that FART needs to stay above $1.05 to witness new rallies. Otherwise, he thinks the altcoin could fall to as low as $0.8.

“Fartcoin: wouldn’t be surprised to see this pullback a little bit here, but don’t forget that hot air rises in the end.

Three different scenarios, all mostly dependent on BTC, frankly. I think this just continues up.”

Based on the trader’s chart, he seems to suggest that FART can rally to as high as $1.40. At time of writing, FART is worth $1.09.

Turning to fellow memecoin Bonk (BONK), Altcoin Sherpa thinks that the altcoin looks really strong.

“The chart itself still looks fire.”

At time of writing, BONK is trading for $0.00002, up over 10% on the day.

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Trader Predicts Marketwide Crypto Pullback, Lists Five Altcoins To Watch Along With Downside Price Targets

Regulators in the European Union (EU) have released new guidance on blockchain technology as it pertains to the processing of personal data.

In a new report, the European Data Protection Board (EDPB) says that in order to properly comply with the EU’s General Data Protection Regulation (GDPR), “evaluations” may need to be conducted on how blockchains record data.

According to the EDPB, the evaluation should address the following questions:

“Will the data on the blockchain contain personal data?…

ii. If so, why is a blockchain necessary for this processing? (What is the rationale for this choice?

What are the alternatives?)

iii. What type of blockchain should be used? (Is a private blockchain sufficient? Can a permissioned

blockchain be used? Is a ‘zero-knowledge’ architecture possible?)

iv. What technical and organizational measures are used? (Will personal data be stored on or offchain? Are any privacy-enhancing technologies being used – if not, why?)”

The EDPB says that blockchains are not an exception to GDPR laws, and should take into account how they process certain data. To comply with GDPR, the regulator says blockchains may need to be completely deleted if the deletion of GDPR-relevant data isn’t already taken into account to the network’s original creation.

“Personal data must be erased once the purposes of the processing has been achieved and any

regulatory periods for retention have expired in order to conform to the principle of storage

limitation.

Data deletion at the individual level in a blockchain can be challenging and requires ad-hoc

engineered architectures. When deletion has not been taken into account by design, this may require

deleting the whole blockchain.”

In a post on LinkedIn, James Smith, special projects lead at the Ethereum Foundation, said the EU’s new guidelines may threaten the existence of public blockchains.

“What this means for Ethereum and Web3:

The very architecture of public blockchains like Ethereum is being challenged.

Without significant pushback, we’re facing a regulatory framework that fundamentally misunderstands decentralized technology.

This isn’t just about compliance headaches – it’s about whether public blockchains can legally operate in Europe.”

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‘Deleting the Whole Blockchain’ – EU Regulators Say Entire Chain Histories Could be Erased for Personal Data Protection

The crypto market experienced another relatively calm day on Tuesday despite widespread pessimism about the impact of the Trump administration’s tariffs on the economy.

Bitcoin (BTC) is up 1% in the last 24 hours, trading at almost $95,400 and within sight of topping $96,000 for the first time since the second half of February. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization except for stablecoins, exchange coins and memecoins — rose 1.1%, with Bitcoin Cash (BCH) outshining the rest of the index by surging 6.3%.

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Crypto stocks had fairly muted performances Tuesday, with Coinbase (COIN) and Strategy (MSTR) up 0.9% and 3.3%, respectively. Janover (JNVR), continued to benefit from its SOL accumulation strategy, rising another 16%.

The stock market also continued its recovery from the early April-tariff induced panic, with the S&P 500 and Nasdaq each adding 0.55%.

For some observers, the market’s performance has seemed unanchored from the wave of economic data coming in that suggests that U.S. economic activity is slowing down due to the tariff policies unleashed by the White House.

Consumer confidence came in at its lowest level since May 2020, according to a Conference Board survey, while the consumer outlook hit its lowest point since 2011. Meanwhile, the JOLTS survey indicated that job openings had fallen to 7.19 million in March versus an expected 7.5 million.

In fresh tariff news, Secretary of Commerce Howard Lutnick said today that a trade deal had been reached with an unspecified country, though the deal still needed to be ratified with that country’s leaders.

Some shade on the rally

“Hard to fathom how blind the market really is,” Jeff Park, head of Alpha Strategies at Bitwise, posted on X.

“A Fed cut means nothing if U.S. creditworthiness is permanently impaired by the global community as resulted by dollar weaponization,” Park said, referring to recent speculation on whether the U.S. central bank will be forced to lower rates to counter the effect of Trump’s tariffs. “That's the mispricing we are talking about here," he continued. "The myopic focus on whether [we] are getting a fed cut in May/June is completely irrelevant if the notion of the risk-free as we know it is fundamentally challenged forever, which means cost of capital globally is going higher.”





Bitcoin Price (BTC) News: $96K in Sight

Blockstream chief executive Adam Back has a huge prediction for Bitcoin’s (BTC) market cap.

Back says on the social media platform X that the business intelligence firm Strategy and other companies employing a BTC treasury policy “are an arbitrage of the dislocation between the Bitcoin future and today’s fiat world.”

“A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. Scalable enough for most big listed companies to move to BTC treasury.”

Back argues a strategy involving the flagship crypto is “a logical and sustainable arbitrage.”

“But not forever, the driver is Bitcoin price going up over four-year periods faster than interest and inflation. Post-hyperbitcoinization, mNAV probably trends to 1.”

MNAV stands for “multiple of net asset value,” and it refers to the ratio of a company’s stock price in relation to the value of the Bitcoin that the company holds per share.

Back also says BTC treasuries are part of a long-term effort to reprice the world in Bitcoin. The Blockstream CEO argues BTC will “become the hurdle rate for operating companies.”

Bitcoin is trading at $93,773 at time of writing. The top-ranked crypto asset by market cap is up nearly 8% in the past seven days.

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$200,000,000,000,000 BTC Market Cap Now in Play As ‘Hyperbitcoinization’ Takes Shape: Bitcoin OG Adam Back

The head of a fintech giant SoFi says the firm is bringing back crypto banking thanks to the new presidential administration’s stance on the industry.

In a new interview with CNBC, SoFi CEO Anthony Noto says crypto is returning to the company after SoFi had to halt crypto activities in 2023 due to regulatory pressure.

“We’re going to re-enter the crypto business, which we had to exit. We’ll re-enter the business of allowing our members to invest in cryptocurrency. We want to actually make a bigger, more comprehensive push into cryptocurrency [this time], to include really providing crypto or blockchain capabilities in each product area that we have.”

Last week, the Federal Reserve said it withdrew four previous statements and letters regarding the Fed’s expectations of banking crypto activities.

“The Federal Reserve Board on Thursday announced the withdrawal of guidance for banks related to their crypto-asset and dollar token activities and related changes to its expectations for these activities.

These actions ensure the Board’s expectations remain aligned with evolving risks and further support innovation in the banking system.”

The Reserve Board said it plans to continue to monitor crypto activities under a “normal supervisory process.”

The move follows a trend of regulators taking a more relaxed stance against the crypto sector since the reinstatement of President Trump and his new administration.

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SoFi CEO Says Bank To Bring Back Crypto Investing After Trump Triggers Shift in Regulatory Landscape: Report

One of the top stock exchanges in the world has filed to list a spot-based exchange-traded fund (ETF) for the original memecoin.

Nasdaq has officially submitted an application to the U.S. Securities and Exchange Commission (SEC) to list a Dogecoin (DOGE) ETF that will be sponsored by 21Shares, a financial firm specializing in crypto investments.

Earlier this month, 21Shares teamed up with the corporate arm of the Dogecoin Foundation, House of Doge, for an initiative to launch DOGE exchange-traded products (ETPs) globally.

Said Jens Wiechers, Advisory Board Member at House of Doge and Co-Executive Director of the Dogecoin Foundation, at the time,

“This initiative with 21Shares provides a regulated path for institutions to participate in and amplify the ‘Dogecoin is Money’ vision, while still honoring the community’s spirit. Global adoption is critical, and we’re excited to take this next step – ensuring Dogecoin stays fun, but gains the credibility and backing needed to thrive at scale.”

Added Duncan Moir, President at 21Shares, of the powerhouse crypto partnership,

“By partnering with the House of Doge, we are taking a pivotal step in bringing transparent and institutional-grade investment options to the market. This move reflects our commitment to expanding investor access to innovative and community-driven assets while maintaining the highest regulatory and operational standards.”

The S1 application form was also officially filed earlier this month.

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Nasdaq Submits Application to SEC To List Spot Dogecoin (DOGE) ETF Sponsored by 21Shares

Crypto lender Nexo says it’s planning to reopen operations in the United States as the country has become more welcoming of digital assets.

In a new thread on the social media platform X, Nexo says it will resume services for American customers after shutting them down about two years ago when running afoul of US regulators.

“Nexo returns to the US market. We are embracing renewed optimism and entrepreneurial momentum to deliver our full products to American clients in a supportive environment.”

No official date was given.

The announcement comes after the company ceased operations and paid a $45 million fine in 2023 to the U.S. Securities and Exchange Commission (SEC) after being accused of running an unregistered crypto asset lending product, the Earn Interest Product (EIP).

Reuters reports that Nexo unveiled the plan while hosting the eldest son of US President Donald Trump at a crypto conference in Bulgaria during an event headlined “Trump Business Vision 2025.”

Nexo co-founder Antoni Trenchev tells the news outlet that the crypto firm plans to return to the US “in the coming months” and is having “constructive” conversations with the SEC and other US regulators.

Trenchev says that Trump Jr. is not helping the company return to the US but is “spreading the message that crypto is important to the United States and setting the stage.”

President Trump’s administration has taken several steps to embrace digital assets, including signing an executive order to create a strategic Bitcoin (BTC) and crypto reserve.

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Crypto Lending Platform Nexo Returns to US Market on ‘Renewed Optimism and Entrepreneurial Momentum’

Celsius founder and ex-CEO Alex Mashinsky is facing two decades in prison for his role in the multibillion collapse of the former crypto lending firm.

According to a new court filing, the U.S. Attorney’s Office for the Southern District of New York is asking a federal judge to sentence Mashinsky to at least 20 years in prison after he pleaded guilty to crimes that led to billions of dollars in losses for Celsius customers.

“In sum, this case is on par with other white-collar crimes that have been met with sentences at and above 15 years. Given the number of aggravating factors here, the Government respectfully recommends a sentence of at least 20 years. Alexander Mashinsky committed a massive fraud: through calculated deception and exploitation, he inflicted catastrophic financial and emotional harm on thousands of victims.

He enriched himself while destroying lives, and even today refuses to acknowledge what he did. For these reasons, the Government respectfully submits that the Court should impose a substantial term of imprisonment, in an amount of at least 20 years, to reflect the seriousness of the offense, promote respect for the law, provide just punishment, and afford effective deterrence.”

In December, Mashinsky pleaded guilty to one count of commodities fraud and one count of securities fraud.

As part of his plea, Mashinsky also agreed to forfeit the $48 million in proceeds he generated as a result of his scheme by selling the CEL token.

Said the DOJ said in a December statement,

“Artificially inflating the price of CEL allowed Mashinsky to sell his own CEL holdings for a substantial profit. Mashinsky personally reaped approximately $48 million in proceeds from his sales of CEL. At various times, Mashinsky made false and misleading public statements about his own sales of CEL, claiming that he was not selling CEL, when, in reality, he was taking advantage of the upward price manipulation he had orchestrated by contemporaneously selling huge quantities of his CEL on the market, including, on occasion, to Celsius itself.”

Mashinsky’s sentencing is scheduled for May 8th.

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Alex Mashinsky Facing 20 Years in Prison – DOJ Slams Celsius Founder for ‘Massive Fraud’

Bitcoin (BTC) is looking more like a safe-haven asset amid the financial wreckage caused by President Donald Trump’s tariff rollouts, according to the digital asset investment management firm NYDIG.

Greg Cipolaro, the global head of research at NYDIG, notes in a new analysis that Bitcoin demonstrated some decoupling with equities, US Treasuries and the dollar last week.

“Geopolitical tensions, including tariffs, remain topical (despite Trump walking back many of them), but political pressure from Trump on Fed Chair Powell, and even speculation about his potential dismissal that added to market unease. In many ways, this is exactly the kind of environment where Bitcoin should shine.

The decoupling from traditional risk assets is still very early and fragile, but for those watching crypto markets 24/7 (guilty), the shift is palpable. That said, we haven’t yet seen confirmation in the data. Our preferred correlation measure — a 90-day rolling window — currently shows rising correlations between bitcoin and US equities.”

Cipolaro argues that wavering faith in US policy choices has diminished the status of the US dollar and US Treasuries as safe-haven assets.

“What is interesting to us is that since ‘Liberation Day’ on April 2nd, a new picture of haven assets is starting to emerge, one which includes bitcoin. Bitcoin has acted less like a liquid levered version of levered US equity beta and more like the non-sovereign issued store of value that it is.”

Bitcoin is trading at $95,205 at time of writing. The top-ranked crypto asset by market cap is up more than 2% in the past 24 hours.

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Bitcoin Now Emerging As Safe-Haven Asset Following Trump’s ‘Liberation Day,’ According to Crypto Firm NYDIG

In an exclusive interview, Bo Hines, Executive Director of the President’s Council of Advisors on Digital Assets, lays out the Trump administration’s to make the United States the global Bitcoin superpower.

He discusses the early successes of President Trump’s second term, including ending Operation Choke Point 2.0 and launching the first-ever White House Crypto Summit. Hines reveals details about the creation of a Strategic Bitcoin Reserve (SBR), budget-neutral accumulation strategies, and the administration’s framing of Bitcoin as “digital gold.”

With support from tech leaders like David Sacks and high-level Treasury coordination, Hines argues the U.S. is poised to lead in Bitcoin adoption, mining, and regulatory clarity. The interview underscores a paradigm shift in Washington: from regulatory hostility to strategic embrace.

Recorded 4/23/25 in the Eisenhower Executive Office Building of the White House

Read more: The Bitcoin Race Has Washington’s Attention

EXCLUSIVE: Bo Hines – Making America “The Global Bitcoin Superpower”

Bitcoin is no longer a speculative asset or a technological experiment—it is increasingly being recognized as a strategic pillar of global finance, energy, and geopolitical power. As existing systems of money, energy, and technology are being reordered, the United States has a historic opportunity to leverage Bitcoin to strengthen its leadership and secure its position in the emerging global order.

Two big shifts make this clear. First, key U.S. officials are calling Bitcoin a strategic reserve asset—digital gold for the 21st century. Second, Bitcoin mining is being reframed—not as a drain on the grid, but as a building block for energy resilience and advanced computing.

Secretary of Commerce Howard Lutnick and Bo Hines, Executive Director of the President’s Council of Advisors on Digital Assets, have both recently described this moment as a new kind of “space race”—this time, centered around Bitcoin.

Bo Hines described this new competition in a recent interview: “There’s definitely a sort of space race as it pertains to accumulation of this asset—no different than there is with gold.”

The stakes are high: countries like China have begun rapidly stockpiling gold, signaling a shift back toward hard assets. Gold hasn’t been a major geopolitical factor in decades, but that could change quickly—and if it does, nations with large reserves will gain a significant strategic advantage. Bitcoin, however, offers the United States a sharper, more dynamic alternative—one that could not only counterbalance gold’s resurgence but also tilt the global financial order further in America’s favor.

As the Bitcoin Policy Institute’s Executive Director, Matthew Pines notes, the United States holds a significant lead in Bitcoin accumulation: “A good estimate is that America probably holds 35 to 40% of all the available Bitcoin that’s been mined… whereas we probably hold about 8 to 10% of the total above-ground gold supply.”

If bitcoin were to monetize at merely the same pace as gold, the U.S. could find itself in a far stronger position with outsized wealth growth within our borders. As the administration looks to cement our financial position, supporting Bitcoin’s adoption could present a rare chance to reshape the global monetary system to America’s advantage.

At the same time, Secretary Lutnick’s comments point to another major shift: seeing Bitcoin mining as a national asset for energy and AI, not just a financial play.

Lutnick outlined the administration’s vision for empowering Bitcoin miners: “We’re going to make it, if you want to mine Bitcoin and you find the right place to do it, you can build your own power plant next to it… The next generation of miners in America will be able to control their destiny, control the cost of power, and I think that is going to turbocharge Bitcoin mining in America.”

This plan supports two crucial goals:

Energy Independence : Bitcoin mining can drive new energy projects, especially using stranded or wasted energy, helping to strengthen and diversify America’s energy base.

: Bitcoin mining can drive new energy projects, especially using stranded or wasted energy, helping to strengthen and diversify America’s energy base. Compute Power: The same infrastructure built for mining can also be used to power the AI industry—giving America the capacity it needs to stay ahead in the burgeoning global AI race.

Bitcoin Policy Institute Head of Policy Zack Shapiro highlights how the mining sector is evolving: “We’re already seeing a lot of Bitcoin mining companies or what were Bitcoin mining companies pivoting to or integrating AI… We’re seeing Bitcoin miners also spinning up AI data centers.”

Today, there are growing signs that countries are entering a race to build the most powerful AI agents—systems that could outthink, self-improve, and outperform humans. If this race accelerates, the country with the most capable AI could ultimately shape the rules of the future world order. In that context, Bitcoin mining infrastructure, which can be easily retooled for AI compute, could become vital—not just for money, but for securing America’s geopolitical position.

The Trump administration sees these challenges and opportunities clearly. Its agenda focuses on rebuilding America’s industrial base, bringing key industries back home, and restoring the country’s financial and technological strength. New tariffs, reshoring initiatives, and a growing interest in Bitcoin all point in the same direction.

But there are only 21,000,000 coins, and the time for nation-states to gain a first-mover advantage is rapidly dwindling. As more countries and institutional investors recognize Bitcoin’s strategic value, competition for meaningful holdings will intensify, driving up acquisition costs and limiting available supply.

Forward-looking policymakers must recognize the profound changes coming to money and technology in the near future—with Bitcoin at the center of both.

If we hesitate, others—China, Russia, or other adversaries—will step into the void.

Bitcoin is no longer optional. It’s a strategic imperative.

This is a guest post by Zach Cohen. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.



The Bitcoin Race Has Washington’s Attention

Crypto trader Michaël van de Poppe believes that altcoins are primed for a bull run following an extended bear winter.

Van de Poppe tells his 784,800 followers on the social media platform X that three tailwinds are pushing crypto prices higher.

At the top of his list is that financial conditions are starting to ease across the world, which he says is highly favorable for risk-on assets such as altcoins and Bitcoin (BTC).

“Liquidity is increasing, and therefore, Bitcoin is expected to go up…

China has started firing up QE (quantitative easing), Europe has lowered the interest rates and we’re at the forefront of the US lowering interest rates and expanding the money supply (or easily said: starting doing printer brr again).

That is a heavy trigger for risk-on assets and will likely start pushing Bitcoin towards a new all-time high.”

Next up, Van de Poppe thinks that investors who benefited from gold’s strong rally over the past few months will start to move their capital into crypto after the precious metal printed a local top at $3,500 per ounce.

“The markets have started to peak for gold in the short term. I truly approve that we’re in a bull market for risk-off assets and that there are certain windows in between that provide windows for risk-on momentum.

We’re on the edge of one. That means a 12-18 month window of risk-on assets to do well as the correlation between a strong gold price and falling altcoins has provided strong data.

Gold has extended massively upwards as the RSI (relative strength index) data has gone into levels not seen since 1980, while ETH has gone so deep that it’s on the lowest point ever against Bitcoin on the weekly and monthly data.”

Lastly, Van de Poppe says that historical data suggest that the offshore Chinese Yuan and US dollar ratio (CNH/USD) is tightly correlated to the value of the Ethereum versus Bitcoin (ETH/BTC) pair.

According to the trader, CNH/USD printed major bottoms in 2016 and 2019, and during those periods, ETH/BTC and the rest of the altcoin markets carved cycle bottoms before sparking huge upside bursts.

Now, Van de Poppe believes that CNH/USD has bottomed out following the “tariff madness,” putting Ethereum and altcoins in a position to finally witness a true bull run.

“Just like liquidity is the key trigger for Bitcoin, that’s the risk-on and risk-off appetite for altcoins, which can be provided through charts like the CNH/USD and gold.

The altcoin markets have just witnessed the longest bear market ever, which was four years. The previous longest bear market was in 2016, although that was just 2.5 years…

Macroeconomic tables are turning, and I assume we’ll see gold correct, Chinese Renminbi to turn upwards and altcoins to fire off.”

At time of writing, the ETH/BTC pair is trading for 0.01894 BTC worth $1,798.

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Bitcoin Price Could Hit $120K as Investors Flee U.S. Assets, Standard Chartered Says

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