Standard Chartered expects BTC to rise amid US tariff hike

The first cryptocurrency can be used as a risk hedge

07.04.2025 - 15:40

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2 min

What’s new? Analysts at Standard Chartered have said bitcoin could benefit from rising tariff risks as signs of “US isolationism” begin to shape market sentiment. “I think bitcoin will become a hedge against tariff risks this time around,” said analyst Geoffrey Kendrick.

Material by The Block

What else is known?

“US isolationism is akin to increased risks of holding fiat, which will ultimately benefit bitcoin,” he added.

The note followed bitcoin’s drop below $80 000 over the weekend. The asset is currently trading at around $79 981.

Kendrick pointed to the $76500 mark, the top of the November 6 daily candle formed the day after the US election, as a key support level.

He acknowledged the market’s decline, but noted that bitcoin continues to outperform most stocks in the Mag7 Tech group, second only to Microsoft and Google since the tariff-related headlines earlier this week.

In a note last week, Kendrick said bitcoin could be seen as a hedge against “US isolationism” and noted that BTC has held up better than most tech stocks during the recent sell-off.

Kendrick added that the recent sell-off in cryptocurrencies is likely to taper off and bitcoin could return to the $84 000 mark unless there are some broader risk-off moves in traditional markets.

Kendrick has been among the most optimistic voices on bitcoin, previously predicting a target price of $200 000 by the end of 2025. He believes bitcoin will reach $300 000 by the end of 2026, $400 000 by the end of 2027, and $500 000 by the end of 2028.

Kendrick also said last week that the token of the Avalanche (AVAX) blockchain could grow more than 10 times to $250 by the end of 2029 from its current price of around $15. The prediction was driven by the recent Etna upgrade, which made the network cheaper and more attractive to developers.

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