Standard Chartered: If progress goes smoothly this week, Bitcoin may never drop below $100,000 again

ChainCatcher news, according to The Block, Standard Chartered Bank stated that "if progress goes well this week," Bitcoin may never drop below $100,000 again. Analyst Geoffrey Kendrick pointed out that the Bitcoin-to-gold ratio has risen to slightly above previous levels, which compares Bitcoin's market capitalization to that of gold and increases as Bitcoin's market cap grows.

Another key signal of the market strengthening again is that the spot Bitcoin ETF will see new inflows of funds. If even half of the funds flow back into the Bitcoin ETF from Monday to Wednesday this week, it will be a strong signal of market sentiment warming up. In recent weeks, inflows into Bitcoin ETFs have lagged behind those of gold ETFs, "and need to catch up."