Bitcoin’s Weekend Outlook

Bitcoin has faced five consecutive weekends of negative returns, but this trend is expected to change this weekend, according to Standard Chartered analyst Geoffrey Kendrick.

A small positive move this weekend could trigger exchange-traded fund (ETF) inflows on Monday, pushing Bitcoin towards $100,000 and then $102,500, Kendrick noted in a Friday report shared with The Block. Currently, Bitcoin is trading at about $97,650.

The recent weekends (5 p.m. New York time Friday to the same time Sunday) have been particularly challenging for Bitcoin, impacted by negative headlines. For instance, the DeepSeek news and the tariff headlines from Canada and Mexico weighed down the market.

Kendrick stated, “But this is not ‘normal’, no matter how it may feel if you are holding a long position while taxiing kids to weekend sport in the rain.”

Weekend Returns in BTC Since Start 2024

Source: Standard Chartered

This weekend, February 15-16, Kendrick predicts it will be different, as adverse events have already occurred, and U.S. 10-year yields are below 4.5%, which is a positive signal for risk assets like Bitcoin. Lower yields generally ease pressure on speculative investments, increasing the likelihood of a rebound.

Given these factors, Kendrick sees Bitcoin regaining momentum, with a target of $100,000 initially, followed by $102,500. He added, “Then we see,” referencing Bitcoin’s nature as a Giffen good, suggesting that higher prices could spur further demand.

Average Returns in BTC Per Day of Week Since Start 2024

Source: Standard Chartered

A History of Bold Predictions

Kendrick has made several bold forecasts for Bitcoin over the years. Earlier this month, he anticipated that Bitcoin would reach $500,000 by 2028 due to increased investor access and declining volatility.

His projections include Bitcoin reaching $200,000 by the end of 2025, $300,000 by the end of 2026, $400,000 by the end of 2027, and maintaining $500,000 until the end of 2029.