StanChart looks for 3 signs of BTC bottom, including Strategy’s Monday news
Summary
Standard Chartered analyst Geoff Kendrick said crypto prices likely hit their cycle low, estimating Bitcoin’s bottom at about $59,000, and said he is watching for confirmation from three signals: Strategy buying more Bitcoin, positive inflows into Bitcoin ETFs, and continued weakness in oil prices. He noted Bitcoin was trading around $63,700. A recent Saylor post, “Still adding dots,” may hint at another Bitcoin purchase. Bitcoin ETFs recorded $85.84 million in net inflows on Friday, and crude oil futures fell for a second straight day. Kendrick concluded that “winter is over” and crypto spring has begun.
