Standard Chartered Sees End of Crypto Winter as BTC and ETH Targets Hold

Geoffrey Kendrick, Standard Chartered's digital-assets research head, believes the recent selloff in crypto markets has marked the cycle bottom. According to him, Bitcoin and Ethereum have likely found their lows at $59,000 and around $1,665 respectively.

Kendrick says that forced selling, weak ETF flows, and broader liquidity stress have already done the heaviest damage, with the market now waiting for confirmation through renewed spot Bitcoin ETF inflows and stronger institutional buying. He retains his year-end targets of $100,000 for Bitcoin and $4,000 for Ethereum.

The forecast extends Standard Chartered's earlier bullish view even after one of Bitcoin's most painful stretches of the year. A return to consistent inflows in spot Bitcoin ETFs would give Kendrick's thesis stronger market confirmation. The liquidity backdrop also includes the SpaceX IPO window, which may have pulled capital away from Bitcoin and other risk assets.

Kendrick expects Ethereum to outperform Bitcoin in the near term, a view that fits Standard Chartered's existing Ethereum thesis. He argues that network activity, stablecoin settlement, and tokenization demand remain stronger than ETH's price performance suggests.