Standard Chartered’s Kendrick says Bitcoin likely bottomed near $60,000

Standard Chartered analyst Geoffrey Kendrick said Bitcoin likely bottomed near $59,000-$60,000, refining the bank’s earlier view that the token was nearing a floor and maintaining a $100,000 year-end target. He cited returning spot Bitcoin ETF inflows, changing market structure and lower oil prices as supportive factors. Coinbase CEO Brian Armstrong separately said Bitcoin likely found its bottom around $60,000, said he remains long on BTC and described it as “digital gold,” while acknowledging expert estimates for the cycle low still range from $40,000 to $59,000. Other firms cited by The Block offered broader views: Galaxy Digital placed a bottom range at $30,000-$54,000 based on 13 indicators, NYDIG said the pullback showed bottom-like traits without extreme capitulation, and Bitwise CIO Matt Hougan argued long-term investors should focus more on whether this cycle’s top is still ahead than on pinpointing the exact bottom. These remain market assessments rather than confirmed outcomes.