Bitcoin News
By Steven Anderson
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Kendrick Sees a Cycle Bottom. Kendrick's view is that the drop to $59,000 wasn't a breakdown.
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Ethereum Target Stays at $4,000. It's not just Bitcoin. Standard Chartered also reaffirmed its $4,000 target for Ethereum, the…
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What the Bank Is Watching. The $100,000 Bitcoin call hinges on a few things moving in the right direction.
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Bitcoin fell hard. Then it bounced. And Standard Chartered didn't blink.
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The bank's digital-assets research head, Geoffrey Kendrick, put out a note saying the recent selloff probably marked the cycle bottom for Bitcoin.
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The dip took Bitcoin down toward $59,000 — a sharp move that shook confidence across the crypto market.
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Kendrick's view is that the drop to $59,000 wasn't a breakdown. It was a marker — the kind of price point that, in hindsight, tends to look like a bottom in a market cycle.
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Standard Chartered's confidence isn't new. The bank has been bullish on Bitcoin for a while, and the recent turbulence didn't change the framework.
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The bounce after the $59,000 low is, per the bank's read, a positive signal. Investors didn't walk. They stayed, and some bought.
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It's not just Bitcoin. Standard Chartered also reaffirmed its $4,000 target for Ethereum, the second-largest cryptocurrency by market cap.
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Kendrick put weight on Ethereum's ongoing technological upgrades. The network keeps developing.
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More context: Bitcoin Holds Above $62,500 as Trumps Truth Social Post Sparks $63K Recovery
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That's a consistent stance across both assets. Standard Chartered isn't picking one over the other or quietly walking back a target while keeping the other loud. Both numbers hold.
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The $100,000 Bitcoin call hinges on a few things moving in the right direction. Institutional adoption is probably the biggest lever — more firms coming in with real capital, not…
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Standard Chartered hasn't given any timeline update or revised its view based on the recent volatility. No new comments came out beyond Kendrick's note.
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