Bitcoin has already hit the bottom of the current cycle at $59,000, according to Standard Chartered analyst Geoffrey Kendrick, reports CoinDesk.
Kendrick attributes the recent correction to a mix of macroeconomic uncertainty, reduced risk appetite, and capital outflows from cryptocurrency investment products. However, he believes most negative factors have already been priced in by the market.
Crypto Winter May Be Over
Kendrick noted that the drop to $59,000 was accompanied by investor capitulation and a sharp deterioration in market sentiment—signs historically observed near local lows.
“Winter is over. Welcome back to crypto spring,” he stated.
He believes the market is laying the groundwork for a new growth phase, with current levels appearing attractive for long-term investors.
Institutional Demand Remains
Standard Chartered continues to view institutional capital inflows through spot ETFs and corporate treasury strategies as key drivers for Bitcoin.
The analyst also pointed to ongoing Bitcoin purchases by public companies, including Strategy, which continue to build reserves despite high market volatility.
Optimistic Outlook Maintained
Despite the recent correction, the bank maintains a long-term positive outlook on Bitcoin. Previous forecasts by Standard Chartered suggested Bitcoin’s price could reach $200,000 by 2026, driven by further institutional investment and the expansion of digital assets in the traditional financial system.
Kendrick emphasized that while short-term volatility remains high, fundamental factors continue to support a long-term upward trend.
BIT Analysts Predict Bitcoin Could Fall to $50,000
Analysts at the crypto platform BIT believe the market has not yet reached its final bottom and will remain under pressure in the coming weeks.
https://t.co/4KKkLIgXCd
— BIT Official (@BITofficial_EN) June 12, 2026
They assess that Bitcoin has entered the final phase of a bear cycle and continues to move within a classic Elliott corrective wave model A-B-C.
The first wave of decline in February brought the price to the $60,000–69,000 range, followed by a rebound to $83,000. The market is now in the process of forming wave C, which could end around $50,000–55,000.
Analysts note that sentiment indicators remain at levels typical for the final stages of bear markets. The Fear and Greed Index has approached values seen near the 2022 bottom, and several technical metrics indicate the asset is deeply oversold.
An important benchmark highlighted by experts is Bitcoin’s Realized Price, currently around $54,600. Historically, prices have rarely stayed below this level for extended periods.
Next Cycle Could Be Triggered by Inflation Slowdown
Analysts cite the macroeconomic situation as a key factor for market recovery. They believe, as in 2022, the start of a new bull cycle will depend on a reversal of the inflation trend and easing financial conditions.
BIT suggests that the final bottom formation could take another one to three months. Confirmation of the end of the crypto winter would be Bitcoin’s price returning above the 21-week moving average and an improvement in long-term cyclical indicators.
Previously, Galaxy Research suggested the current market cycle’s minimum could be in the $40,000-46,000 range.
