Standard Chartered: Bitcoin will never fall below $ 100,000

Bitcoin BTC $111,292.00 Mezo Wrapped BTC -3.02% Market capitalization $59.29 million VOL. 24 hours $1.94 billion will probably never fall below the $ 100,000 mark again, said Jeffrey Kendrick, head of digital asset research at Standard Chartered Bank. According to him, the continuation of positive macroeconomic and geopolitical conditions may secure a new level of support for the first cryptocurrency. The analyst emphasized that «market fear has given way to hope,» in particular due to the improvement of trade relations between the US and China, which pushed up risky assets.

Kendrick drew attention to the ratio of bitcoin’s capitalization to gold, believing that exceeding the 30 mark would signal the end of the period of fear. He also noted a significant inflow of funds into spot bitcoin ETFs, while investors withdrew more than $ 2 billion from gold funds. If part of this capital is reoriented to bitcoin, it will be a powerful positive signal for the market. The final confirmation of the trend change, according to the expert, will be the update of the historical maximum of the BTC price.

Against this backdrop, bitcoin has already overcome the levels of $ 112,000-$ 113,000, which has returned about 7 million BTC to the profit zone. According to an analyst under the nickname Crazzyblockk, the asset has consolidated above three key cost levels for the main groups of investors, from short-term traders to beginners. This, he said, is a signal of a transition from a bear market to a bull market. He added that the growth of unrealized gains increases the confidence of asset owners and stimulates further accumulation.

Despite the general optimism, analysts note that large funds remain cautious. According to Deribit, institutional investors are actively buying put options to hedge against a possible price drop of up to $ 100,000−107,000. Some major players, including the Overwrite Fund, are selling growth contracts, putting pressure on the market. At the same time, the funds are ready to buy back the sagging in the range of $ 106,000−107,000, which indicates that sentiment has stabilized.

Experts emphasize that the market is still restrained: investors do not expect a breakout above $ 120,000 in the near future, but the probability of falling below $ 100,000 is decreasing. According to Kendrick, this week’s key factor will be the US Federal Reserve’s decision to cut the rate by 25 basis points, which could give the market another boost.