Analyst Says Bitcoin May Have Found Its Cycle Low

What to Know

• Standard Chartered analyst Geoffrey Kendrick says bitcoin likely set its cycle low near $59,000.
• His view is based on improving investor flows, renewed corporate buying and easing macro pressures.
• MicroStrategy resumed bitcoin purchases, adding to signs of stronger institutional demand.
• U.S. spot bitcoin ETFs returned to net inflows, helping support sentiment.
• Falling oil prices have reduced inflation worries and improved the outlook for risk assets.
• Kendrick says a decisive move above bitcoin’s early May high near $83,000 would confirm a new uptrend.
• Bitcoin was recently trading around $66,300 as traders watched for follow through.

Bitcoin Sentiment Turns More Constructive

Bitcoin is drawing renewed attention from traders after a stronger mix of onchain and macro signals lifted confidence that the market may have already put in a bottom. Kendrick said the combination of recovering ETF demand, corporate accumulation and softer inflation pressure points to a healthier setup for the leading cryptocurrency.

ETF Inflows And Corporate Buying Support The Case

The analyst highlighted the return of net inflows into U.S. spot bitcoin ETFs as an important sign that investor appetite is improving again after a period of caution. He also pointed to MicroStrategy’s resumed bitcoin buying as another indicator that large buyers remain willing to add exposure at current levels.

Oil Prices Ease Inflation Concerns

Lower oil prices have added another tailwind by reducing concerns that stubborn energy costs could keep inflation elevated. That matters for bitcoin because calmer macro conditions can encourage investors to move back into risk assets, especially when liquidity and demand trends begin to improve at the same time.

What Would Confirm The Breakout

While Kendrick sees signs that bitcoin may have already bottomed around $59,000, he said the market still needs a clear technical breakout to fully validate a new uptrend. In his view, a decisive push above the early May high near $83,000 would be the strongest confirmation that momentum has shifted back in favor of buyers.

Frequently Asked Questions (FAQs)

What cycle low does Kendrick expect for bitcoin?

Kendrick said bitcoin likely found its cycle low around $59,000 based on stronger flows, renewed buying and improved macro conditions.

Why are spot bitcoin ETF inflows important?

Net inflows suggest investors are once again allocating capital to bitcoin through regulated products, which can support price stability and upside momentum.

What level is being watched as a bullish confirmation?

Kendrick said a decisive break above bitcoin’s early May high near $83,000 would strongly confirm a new uptrend.

Where was bitcoin trading recently?

Bitcoin was recently trading around $66,300 as investors assessed whether the market has already turned higher.

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