Standard Chartered’s top digital assets analyst is calling the end of crypto winter. Geoffrey Kendrick, the bank’s Global Head of Digital Assets Research, told clients in a note issued around June 12 that Bitcoin likely bottomed at roughly $59K on June 5, marking what he believes is the cycle low.
“Winter is over. Welcome back to crypto Spring,” Kendrick wrote.
The declaration comes after one of the more punishing drawdowns in recent Bitcoin history. From its peak of $126K in October 2025, Bitcoin shed approximately 53% of its value before finding a floor.
The numbers behind the call
Standard Chartered is keeping its year-end Bitcoin target at $100K, which implies roughly 56% upside from where the asset has been trading. The bank also maintains a $4K year-end target for Ethereum.
