Standard Chartered’s head of digital assets research, Geoff Kendrick, issued a definitive call on Friday, stating the prolonged crypto downturn has concluded.
“Winter is over. Welcome back to crypto spring,” Kendrick wrote, maintaining the bank’s aggressive year-end price target of $100,000 for Bitcoin. He noted current levels represent the buying zone investors will regret missing.
Kendrick’s analysis points to three simultaneous market shifts lifting the negative pressure on digital assets. The first change is the completion of the massive SpaceX IPO, which had previously acted as a liquidity vacuum, driving forced selling in Bitcoin ETFs.
The second overhang fading is geopolitical. Declared progress toward a US-Iran peace deal calmed markets and pushed oil prices down to $81 per barrel. The third signal is a definitive reversal in fund flows. After $5 billion in outflows from Bitcoin ETFs since mid-May, Friday marked the strongest day of inflows in a month at $86 million, helping Bitcoin reclaim $64,000.
The renewed momentum sent crypto prices sharply higher across the board. Bitcoin rose above $66,500, while major altcoins posted significant gains, with Ether up 7% and Hyperliquid jumping 12%.