BiyaPay Analyst: Standard Chartered Predicts Bitcoin Rebound by Year-End, This Cycle Could Be the Last Time BTC Falls Below $100K

2 hours ago

On November 19th, Bitcoin dropped below $90,000, which raised concerns in the market regarding a bear market. However, Geoffrey Kendrick, an analyst at Standard Chartered Bank, pointed out that this rapid decline is more similar to the third deep correction within the cycle. Multiple indicators have reached extreme levels. The Strategy's PB fell to 1.0, indicating that the price may be approaching the bottom. He anticipates that Bitcoin will rebound before the end of the year and believes that this might be the last time in this cycle that Bitcoin falls below $100,000. Although option data shows a risk of Bitcoin testing the $80,000 mid-range, many market participants think that leverage clearing creates space for the next round of growth. In a low-liquidity environment, even small amounts of funds can quickly drive price reversals. BiyaPay analysts stated that the current market has entered the "deep correction + leverage clearing" stage. If Bitcoin can remain stable near $90,000, the probability of a year-end rebound still exists. Users can use BiyaPay to participate in digital assets, Hong Kong and U.S. stocks, and futures trading by using USDT and seize potential market opportunities.

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