JAKARTA - Bitcoin (BTC) has been in the spotlight again in recent weeks, with the prediction that the world's largest cryptocurrency price could soar to reach $130,000 in the next two months.

Geoff Kendrick, Head of Research forex and Digital Assets at Standard Chartered, said that a growing institutional inflow could push the price of Bitcoin up significantly.

According to Kendrick, the market is now entering a stability phase after the Federal Reserve (The Fed)'s decision to maintain interest rates did not change on Wednesday, January 29, although there are still some macroeconomic risks to consider.

One of the main factors that can accelerate institutional momentum is the lifting of the crypto accounting rules SAB 121 by the Securities and Exchange Commission (SEC).

This decision removes regulatory barriers that previously limited traditional financial institutions to storing digital assets. Kendrick believes that with this new policy, the flow of institutional funds to Bitcoin will be even heavier.

In addition, Bitcoin's long position liquidation event worth US$1.1 billion (Rp17.8 trillion) that occurred on Monday, January 27 due to news related to DeepSek's cost-effective AI model, has made the market cleaner from overposition. "The market is now more stable, and this provides new opportunities for investors," Corn said.

Kendrick also noted that although macroeconomic factors remain influential, the decline in inflation triggered by AI technology has the potential to support rising Bitcoin prices. "If cheaper AI lowers inflation, then risk assets like Bitcoin that are not directly related to AI should benefit," he added.

However, there is uncertainty as a result of the Trump administration's executive order suggesting the US to become the leader of the crypto sector. However, Kendrick sees the crypto market has begun to address the initial reaction and is starting to enter the purchasing phase as the price slumps.


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