Standard Chartered Predicts Bitcoin Surge Amid Tech Stock Rally
Standard Chartered’s latest forecast indicates an accelerating correlation between Bitcoin and major U.S. tech stocks, particularly the “Magnificent Seven” — Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla. According to the prominent global cross-border financial institution, Bitcoin will probably break above $88,500 this weekend in light of the tech sector’s impressive performance.
In light of geopolitical and macroeconomic concerns, the bank advises investors to “HODL” Bitcoin, demonstrating the cryptocurrency’s growing value as a hedge in unpredictable times. Tech stocks have helped lift investor sentiment across risk markets. Despite a recent pullback, Nvidia remains a key driver of tech sector optimism.
Microsoft’s expanding AI infrastructure and strong cloud earnings from Amazon and Alphabet are reshaping the broader market narrative — pushing investors to reallocate to high-growth assets like Bitcoin. Analysts argue that as tech leads the charge in equities, crypto becomes the next logical destination for momentum-driven capital.
Bitcoin may break $88.5K this weekend amid the tech market’s positive momentum
Geoffrey Kendrick, head of digital assets research at Standard Chartered, pointed to recent tech stock gains—especially a key Microsoft announcement—as a signal for Bitcoin’s short-term direction. In an email, he stated, “The strongest performers were MSFT and BTC. Same again for today in the Bitcoin spot and tech future. In addition, he added that it is becoming increasingly likely that after the U.S. strong non-farm payrolls, we will see a clear break above the key $85,000 level. The Standard Chartered executive explained that such an outcome would pave the way for a return to Wednesday’s pre-tariff level of $88,500.
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On the contrary, China’s retaliatory tariffs have led to large concern as they may limit this forecast. According to CoinMarketCap, Bitcoin is priced at $84,107.26, up by 1.45% in 24 hours. Bitcoin gains spotlight as Standard Chartered bets on crypto amid key U.S. jobs report.
Kendrick’s claims are made ahead of the highly anticipated Non-Farm Payrolls (NFP) U.S. employment report. The report would thoroughly update the labour market, covering wage growth, the unemployment rate, and newly created jobs.
A strong jobs report — particularly one that exceeds the previous 151,000 gain — could reinforce confidence in the U.S. economy, especially if the unemployment rate holds steady at 4.1%. However, such data might strengthen the dollar, potentially cooling crypto gains in the short term.
A disappointing outcome, however, that might fall short of the median estimate of 140,000 jobs and indicate unemployment marginally higher than 4.1% might raise fears of a recession. As a result, investors would rush to Bitcoin and other cryptos as safe-haven assets.
Based on Kendrick’s argument about Bitcoin’s surging prediction, he views Bitcoin’s increasing significance as a key asset, suggesting that Standard Chartered was shifting towards an optimistic outlook.
Furthermore, he mentioned that “Bitcoin is proving itself to be the best tech upside when stocks go up and as a hedge in multiple scenarios…I argued that Bitcoin trades more like tech stocks than it does gold most of the time. At other times, and structurally, Bitcoin is useful as a TradFi hedge.”
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Standard Chartered also shared its views, emphasizing the strategic significance of Bitcoin in the financial markets more and more. In support of this, the bank recently determined that Avalanche (AVAX) and Bitcoin would probably benefit from a possible post-Liberation Day cryptocurrency boom.
It is also true that its most recent mention matches a prediction module introduced in a data report on the move of institutional investors or big players moving ahead in anticipation of a market upswing. Outside of institutional investors, the bank is also interested in Bitcoin.
In support of this, it has also positioned Bitcoin as an expanding inflation hedge. Due to its decentralized structure and restricted supply, it made the case that it is a desirable substitute for traditional safe-haven assets.
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