Bitcoin may have just turned a corner. Standard Chartered’s Geoffrey Kendrick declared in a client note published Friday that the cryptocurrency has printed its definitive cycle low, with the floor now locked in at approximately $59,000 — and that the protracted downturn gripping digital asset markets since last autumn is firmly behind us.

“Winter is over,” Kendrick wrote. “Welcome back to crypto Spring.”

The $59,375 intraday low touched on June 5 represents a 53% decline from Bitcoin’s all-time high of $126,000, set on October 6, 2025. Kendrick’s position is that this level represents a hard floor he does not expect prices to breach again during the current cycle. At the time of writing, Bitcoin was trading just below…