Standard Chartered analyst calls bitcoin bottom at $59,000

Bitcoin won't be revisiting the doldrums of the recent correction if Standard Chartered’s latest call holds water. Senior analyst Geoffrey Kendrick argues that the $59,000 mark represented a definitive floor for the asset, signaling an end to the brutal selling pressure that defined the start of the month. He isn't just looking at charts to justify the pivot. Kendrick points to two massive external catalysts: the upcoming SpaceX IPO and rumors of a potential peace deal between the U.S. and Iran. These macro shifts are expected to inject liquidity and risk appetite back into the market just as institutional outflows begin to cool. It's a bold stance that ignores the usual technical noise in favor of global geopolitical shifts. If Kendrick is right, the recent dip was the last great buying opportunity before the next leg up. The question now is whether the market's appetite for risk can outpace the lingering fears of sticky inflation.