Bitcoin Bottom Signal Emerges as Standard Chartered Points to Three Key Market Indicators

Bitcoin may have already reached the bottom of its current market cycle, according to Geoff Kendrick, Head of Digital Assets Research at Standard Chartered. In a note to clients, Kendrick said Bitcoin likely found its low near $59,000, representing a decline of about 53% from its previous peak of $126,000.

BTC is trading around $67,200 on Monday, suggesting that market sentiment may be improving after a difficult period for digital assets.

Three Signals Supporting a Bitcoin Market Bottom

Strategy Continues Bitcoin Accumulation

One of the main indicators Kendrick is watching is Strategy’s ongoing Bitcoin purchases.Strategy Executive Chairman Michael Saylor Buys Another 1,587 Bitcoin, Expanding Holdings to 846,842 BTC.

Bitcoin ETFs Record Positive Inflows

Another encouraging sign came from U.S. spot Bitcoin exchange-traded funds. The products recorded net inflows of $85.85 million on Friday, showing renewed investor demand after recent market weakness.

Falling Oil Prices Improve Risk Appetite

Kendrick also highlighted lower oil prices as a positive development. Crude oil futures declined for a second straight day, easing concerns about inflation and interest rates. Lower energy costs often improve sentiment toward risk assets such as cryptocurrencies.

Based on these factors, Kendrick believes the recent downturn may be over, describing the current environment as the beginning of a new phase for crypto markets and stating that “winter is over.”