Geoff Kendrick, head of digital asset research at Standard Chartered, has declared that the prolonged crypto winter has officially ended, with Bitcoin having reached its lowest point. In a detailed analysis, Kendrick stated that Bitcoin's recent drop to around $59,000 marks the market's final bottom, representing a 53% decline from its record high of $126,000 set in October 2025.
Kendrick emphasized that the sell-off is nearing its end, and the market is poised for recovery if certain catalysts materialize. He highlighted a potential peace process between the US and Iran as a key geopolitical factor that could ease oil prices and revive interest in risk assets. Additionally, the upcoming SpaceX initial public offering (IPO) is expected to inject fresh capital and enthusiasm into the crypto space. Kendrick further noted that sustained recovery depends on continued downward pressure on oil prices, a resurgence of inflows into spot Bitcoin ETFs, and ongoing Bitcoin purchases by major institutional players like Strategy (formerly MicroStrategy).
As a major financial institution, Standard Chartered's bullish stance carries significant weight, signaling a potential shift in institutional sentiment. While market conditions remain dynamic, the analysis suggests that the worst of the downturn has passed, offering a silver lining for investors navigating the volatile digital asset landscape.
