Standard Chartered's three 'Ifs' that stand between bitcoin and a market low: Crypto Daily
Summary
Bitcoin and the broader crypto market have sold off sharply, with BTC down 14% in a week and trading near a key $60,000 level. Standard Chartered’s Geoff Kendrick argues the bottom may be near, based on three factors: Strategy’s recent BTC sale could be quickly reversed by larger repurchases, U.S. spot ETF holdings have stayed broadly stable despite recent outflows, and most forced liquidations in futures may already be finished. He thinks the market has more reasons to accumulate now than to wait for confirmation. A chart-based signal also points to a possible bottom: bitcoin is near its 200-week simple moving average, where prior bear markets have often ended.
