Standard Chartered Bank states "The crypto winter has ended," as the three major market suppression factors are easing simultaneously

robot
Abstract generation in progress
Mars Finance News, on June 15, Standard Chartered Bank's Head of Digital Asset Research Geoff Kendrick stated in a recent report that Bitcoin's drop to around $59k in early June may have marked the bottom of this cycle, "the crypto winter is over, and the market has entered a crypto spring phase." The institution maintains a year-end target price of $100k for Bitcoin and expects Ethereum to outperform Bitcoin in this upward cycle. The report pointed out that the three major factors previously suppressing the crypto market are easing simultaneously, including liquidity pressure triggered by SpaceX's IPO, geopolitical risk premiums from the US-Iran conflict, and ongoing outflows of ETF funds. Among them, market liquidity pressure is expected to ease after SpaceX's listing; the peace framework reached between the US and Iran has driven oil prices lower; meanwhile, Bitcoin ETF shows signs of inflow after weeks of net outflows. Analysts believe that as macro and capital pressures are temporarily alleviated, market sentiment is recovering, but the sustainability of these variables remains to be further verified, and whether the market has truly entered a new upward cycle still remains uncertain.
BTC4.75%
ETH10.17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned