Geoffrey Kendrick, head of digital assets at Standard Chartered Bank, shared a half-joking comment via email with clients on Thursday: I am sorry that my target of $120,000 in Bitcoin in the second quarter may be too low. Last month, Kendrick wrote in a report that he expected Bitcoin to hit a record high of about $120,000 in the second quarter of 2025 due to the reallocation of strategic assets from U.S. assets "and the accumulation of giant whales (the main holder). We expect these supporting factors to push Bitcoin to a new all-time high of approximately $120,000 in the second quarter, and the rally will continue throughout the summer, bringing Bitcoin closer to our year-end forecast of $200,000. On Thursday, Kendrick said his previous $120,000 bitcoin price forecast now looks very easy to achieve, and may even be too low. The Standard Chartered analyst said: The main narrative of Bitcoin has changed again. It was once associated with risky assets... and later became a way of strategic asset reallocation from U.S. assets. Now it's all about the flow of money. Money is pouring in many forms. (Jin Shi)