Standard Chartered · SpaceX · Bitcoin · Ethereum · Bitcoin ETF · NewsBTC
Standard Chartered Confirms Bitcoin Bottomed Near $59,000 As Crypto Winter Ends
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Key facts
- The research note dated June 12 frames the low near $59,375 as a 53% retracement from Bitcoin’s all-time high of $126,000, set on Oct. 6, 2025
- The bank’s year-end targets remain bullish, with Bitcoin at $100,000 and Ethereum at $4,000
- If Bitcoin holds above the $59,000 area and ETF flows stabilize, the bottom thesis gains credibility
- Standard Chartered analyst Geoffrey Kendrick has reportedly called Bitcoin’s recent $59,000 area the cycle bottom, arguing that the latest downturn has ended and that crypto has moved into a new
Summary
Standard Chartered’s Geoffrey Kendrick reportedly says Bitcoin’s $59,000 area marked the cycle bottom. The note cites SpaceX IPO-related capital rotation and easing oil-price pressure as key catalysts. Kendrick reportedly maintains a $100,000 year-end Bitcoin target and a $4,000 Ethereum target. Standard Chartered analyst Geoffrey Kendrick has reportedly called Bitcoin’s recent $59,000 area the cycle bottom, arguing that the latest downturn has ended and that crypto has moved into a new recovery phase.