Standard Chartered says crypto's cycle low is likely in, arguing that Bitcoin's drop to roughly $59,000 marked the bottom and that easing IPO-related selling pressure, improving macro conditions, and renewed institutional demand could pave the way toward its $100,000 year-end target.

Standard Chartered analyst Geoff Kendrick suggests the crypto market has hit its lowest point following Bitcoin's recent drop below $60,000.

Standard Chartered Global Head of Digital Assets Research Geoff Kendrick called the crypto bottom Friday, saying Bitcoin’s (CRYPTO: BTC) drop to