Standard Chartered Flags $59K Bitcoin Cycle Bottom as ETF Pressure Eases, While Bears Cite LTH-STH Gap

Standard Chartered’s Geoffrey Kendrick says Bitcoin likely reached the current cycle bottom near $59,000, describing the recent selloff as the end of the market’s latest downturn. The bank maintains a year-end price target of $100,000 for BTC and $4,000 for Ether (ETH) ^{[1] [2] [3]}.

Other analysts are less certain about a completed bottom. One report highlights an LTH-STH realized price gap that has historically been associated with prolonged bear-market phases, warning that recent strength could be a bull trap within a still-bearish setup ^[4].

Standard Chartered’s argument for a bottom centers on ETF-related flows and broader liquidity conditions, including a claim that pressure from spot ETF activity has eased and that capital rotation tied to a SpaceX IPO may have contributed to earlier selling ^{[2] [5]}.

While Standard Chartered points to a $59,000 cycle low and expects a rebound, at least one separate market analysis warns that historical realized-price signals suggest the bear phase may not yet be fully over ^{[1] [4]}.