Bitcoin Sell-Off Likely 'Complete', Rally Into Year-End Still in Play: StanChart Analyst

Why It Matters

If the sell‑off is indeed over, institutional investors and traders may resume buying, sparking a broader crypto market recovery and influencing related assets such as Bitcoin‑linked stocks and ETFs. A year‑end rally could also reshape risk sentiment ahead of the next halving cycle.

Summary

Standard Chartered’s digital‑asset head Geoffrey Kendrick says Bitcoin’s recent steep decline – a roughly 30% pullback that has taken the price from its $126,000 peak to just under $93,000 – is likely nearing its end, marking the third correction of similar magnitude since U.S. spot bitcoin ETFs launched. He points to sentiment gauges such as MicroStrategy’s modified net asset value falling to 1.0 and other valuation metrics hitting zero, which he interprets as seller exhaustion. Kendrick’s base‑case scenario projects a rally back toward the $100,000 level before year‑end, echoing similar optimism from Bitfinex analysts who see on‑chain capitulation signals. The price rebounded 3.8% on Tuesday, suggesting early momentum for a potential bottom.