PANews May 8 news, according to CNBC, Geoffrey Kendrick, head of digital asset research at Standard Chartered Bank, revised his forecast for Bitcoin prices, admitting that the previously set second quarter target price of $120,000 "may be too low". The analyst accurately predicted Bitcoin's rise in 2024 last year. Kendrick said that recent market dynamics show that institutional funds are continuing to flow into the Bitcoin market through various channels. In the past three weeks, the net inflow of US spot Bitcoin ETFs reached $5.3 billion. He specifically mentioned several key signals: MicroStrategy continues to increase its holdings of Bitcoin, Abu Dhabi sovereign wealth fund holds BlackRock's Bitcoin ETF, and the Swiss National Bank invests in MicroStrategy shares. Kendrick maintained his target price of $200,000 at the end of the year and believed that the upward trend may continue in the summer. He pointed out that the market driver of Bitcoin has shifted from "risk asset correlation" to "capital flow dominance", and this structural change has given the price greater room for upward movement.