Standard Chartered analyst Geoff Kendrick says the crypto market may have reached its low point after Bitcoin briefly fell below $60,000. His view frames the recent recovery as a possible sign that the worst of the pullback has passed.
Standard Chartered analyst Geoff Kendrick says the crypto market may have reached its low point after Bitcoin briefly fell below $60,000. His view frames the recent recovery as a possible sign that the worst of the pullback has passed.
Standard Chartered analyst Geoff Kendrick said the crypto market may have bottomed after Bitcoin recovered from a recent drop below $60,000, according to Decrypt. Kendrick characterized the move as a potential turning point, suggesting the market’s latest decline may have marked the low for this phase.
Standard Chartered analyst Geoff Kendrick said the crypto market may have bottomed after Bitcoin recovered from a recent drop below $60,000, according to Decrypt. Kendrick characterized the move as a potential turning point, suggesting the market’s latest decline may have marked the low for this phase.
The call matters because Bitcoin’s fall under $60,000 had become a key test of sentiment across digital assets. A recovery from that level, paired with a major bank analyst saying the bottom may be in, gives traders and crypto firms a fresh reference point for assessing whether market pressure is easing.
Kendrick’s view does not guarantee a sustained rebound, and the source does not present it as investment advice. It is one analyst’s interpretation of recent market action, centered on Bitcoin’s recovery after a sharp move lower.
For readers, the takeaway is that institutional market commentary is shifting from concern about the selloff toward the possibility that crypto’s latest downturn has run its course. Whether that view holds will depend on how Bitcoin and broader digital asset markets trade after the recovery from the sub-$60,000 move.
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