Bitcoin’s recent pullback may be over, with $59,000 marking the cycle low, according to Geoffrey Kendrick of Standard Chartered, as reported by multiple market outlets.
Analyst view
Kendrick, who covers digital assets research at the UK-based bank, reportedly said the downturn in Bitcoin (BTC) has ended and identified $59,000 as the cycle’s bottom. The assessment implies the latest correction has run its course, though it remains an analyst view rather than a confirmed market outcome.
Market context
Bitcoin, the largest cryptocurrency by market value, has seen heightened volatility this year amid shifting macroeconomic expectations and evolving digital-asset fund flows. Institutional participation, including through spot Bitcoin exchange-traded products, has been a key theme across recent market cycles, contributing to both rallies and sharp drawdowns.
Why it matters
Standard Chartered’s crypto research is closely watched by institutional investors. A call for a cycle low can influence market sentiment and risk positioning, especially during periods of uncertainty. While such views do not guarantee future performance, they provide a reference point for how major sell-side institutions interpret the current market structure.