Crypto Scenario Insights
What happened
Standard Chartered analyst Geoffrey Kendrick posits that Bitcoin's cycle low is locked in at $59,000, pointing to the conclusion of SpaceX IPO-related liquidations and a potential US-Iran peace deal.
What we think
From a market structure and capital flows perspective, the assertion that a cycle bottom is locked in at $59,000 warrants rigorous skepticism.
Read the analysis
Did Bitcoin really bottom at $59,000? Dissecting Standard Chartered's SpaceX and macro-driven thesis
We explain what happened and what could follow. We do not forecast prices.