Bitcoin hit bottom at $59,000 marking end to the crypto winter, says Standard Chartered analyst
CoinDesk 2026-06-12 18:09:06
Context: The recent crypto market has experienced a downturn, referred to as the "crypto winter," but according to a Standard Chartered analyst, this period has come to an end. The analyst cites specific events as catalysts for the market's turnaround. The crypto market's performance is often influenced by various external factors, including significant events and geopolitical developments.
Key Facts
- Bitcoin hit a bottom at $59,000, marking the end of the recent crypto winter, according to Geoffrey Kendrick, a senior market analyst at Standard Chartered.
- The end of the crypto selloff is attributed to two key catalysts: the SpaceX Initial Public Offering (IPO) and a potential peace deal between the U.S. and Iran.
- Geoffrey Kendrick is the senior market analyst at Standard Chartered who made these observations and predictions about the crypto market's performance.