In brief
- Standard Chartered analyst Geoff Kendrick suggests the crypto market has hit its lowest point following Bitcoin’s recent drop to nearly $59,000.
- Potential geopolitical relief via a U.S.-Iran peace deal, as well as SpaceX’s IPO, are acting as market catalysts to reverse recent stagnation.
- Kendrick said confirming a market turnaround will rely on a continued drop in oil prices, renewed Bitcoin ETF inflows, and Strategy’s appetite for buying BTC.
The crypto market has taken a heavy beating since Bitcoin notched all-time highs eight months ago, though it’s likely past its nadir, according to Standard Chartered’s Geoff Kendrick.
The investment bank’s global head of digital asset research posited in a Friday note that…
