Catenaa, Thursday, April 24, 2025-Bitcoin could continue its upward momentum if concerns about the Federal Reserve’s independence intensify, according to Standard Chartered top crypto analyst.
Geoffrey Kendrick, the bank’s global head of digital assets research, said on Tuesday that the potential replacement of Fed Chair Jerome Powell represents a key government-sector risk — the type of threat that historically boosts Bitcoin, which is often viewed as a decentralized hedge against systemic instability.
Kendrick reportedly pointed to a measurable indicator: the US 10-year Treasury term premium, which has surged to a 12-year high.
While bitcoin usually tracks this metric closely, the digital asset has lagged behind the recent spike, suggesting room for price growth.
Bitcoin was trading around $91,200 on Tuesday afternoon, up 4% in the past 24 hours.
Kendrick reiterated his bullish forecast, targeting $200,000 for bitcoin by the end of 2025 and $500,000 by 2028. He added that, absent crisis factors, bitcoin tends to behave more like high-growth tech stocks, often mirroring names in the “Magnificent Seven” group.
Though Kendrick sees upside potential tied to macro risk, he warned that bitcoin’s climb is contingent on continued instability around Fed policy and broader government credibility.
