Standard Chartered Says Bitcoin’s Drop Below $100,000 May Be the Last Ever | US Crypto News
Welcome to the US Crypto News Morning Briefing—your important rundown of the most essential developments in crypto for the day forward.
Grab a espresso and breathe as markets edge into one other pivotal second for Bitcoin (BTC). Some merchants brace for a quick stumble under $100,000, whereas others put together to purchase what may very well be the closing main dip earlier than the subsequent wave of momentum builds
Crypto News of the Day: Standard Chartered Watches Gold Flows, Liquidity, and Technicals for Bitcoin’s Next Big Turn
Geoff Kendrick, Head of FX and Digital Assets Research at Standard Chartered, believes a short-lived decline under $100,000 is probably going for the Bitcoin value. However, he says this might mark the final time Bitcoin ever trades at that degree.
“…keep nimble and able to purchase the dip under $100,000 if it comes,” Kendrick urged traders in an e mail commentary.
He mentioned the potential dip might present a closing entry level earlier than a renewed bull section. According to Kendrick, three key forces will decide when Bitcoin turns larger:
- Gold versus Bitcoin flows,
- Liquidity indicators, and
- Technical assist ranges.
Kendrick pointed to a notable sample between gold and Bitcoin, saying Tuesday’s sharp gold selloff coincided with a robust intra-day bounce in Bitcoin. Kevin Rusher, founding father of RAAC, ascribed the selloff to profit-taking, anticipating a protracted interval of value consolidation.
Nevertheless, Rusher says even when the value of gold flatlines, the precious metal will proceed to offer danger administration and diversification advantages in portfolios.
“Gold’s document run this yr is definitely not typical of this asset, however it stays an uncorrelated various. However, what’s nonetheless lacking is the capability to place gold to work simply and earn yield. This would guarantee traders don’t simply purchase gold for cover, however proceed holding it over the long run,” Rusher informed BeInCrypto.
Meanwhile, Kendrick expects extra of this rotation to unfold in the medium time period, viewing it as constructive proof of a market backside forming.
“This was presumably a promote gold, purchase Bitcoin circulation…Gold has been outperforming Bitcoin rather a lot just lately… one thing which has maybe began to show,” Kendrick added.
The second issue he’s monitoring is liquidity. According to Geoff Kendrick, a number of measures have largely been getting tighter, referring to monetary circumstances that could be constraining danger urge for food.
He says the key query is when the US Federal Reserve will think about these circumstances “tight” sufficient to react. This might imply acknowledging the pressure or halting its ongoing quantitative tightening (QT) program.
Any signal of easing or a shift in tone may very well be a significant catalyst for Bitcoin and different danger property. On the technical aspect, Kendrick emphasised the resilience of Bitcoin’s long-term development.
“Although I’m not a technical analyst, I be aware that the 50-week transferring common in Bitcoin has held since early 2023 (when Bitcoin was $25,000 and I forecast it to succeed in $100,000 by the finish of 2024),” he articulated.
He implied that the degree stays a vital zone of assist and investor confidence. For 2025, nonetheless, Standard Chartered mentioned Bitcoin might attain $200,000 by the finish of This autumn, as a latest US Crypto News publication reported.
With Bitcoin hovering close to historic highs and market volatility intensifying, Kendrick’s outlook captures the temper of cautious optimism spreading throughout institutional desks.
The subsequent few weeks might outline whether or not the long-awaited liquidity shift lastly launches the pioneer crypto into uncharted territory.
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Here’s a abstract of extra US crypto information to observe in the present day:
- An 87-year-old Wall Street giant joined the crypto ETF race with the SEC submitting.
- Hong Kong approves the first spot for Solana ETF; trading is set for October 27.
- Bunni DEX shutters after $8.4 million hack, with October claiming one other crypto undertaking.
- Bitcoin value faces rising weak point, struggling around $108,000.
- AAVE V4 release fuels market momentum as DeFi adoption accelerates.
- a16z calls 2025 ‘the yr the world got here on-chain’ in new report.
- HBAR holds the line (for now): One bullish sign seems towards a sea of pink.
- CZ and Peter Schiff ignite debate over the true nature of tokenized gold.
Crypto Equities Pre-Market Overview
| Company | At the Close of October 22 | Pre-Market Overview |
| Strategy (MSTR) | $280.81 | $287.66 (+2.44%) |
| Coinbase (COIN) | $320.33 | $324.80 (+1.40%) |
| Galaxy Digital Holdings (GLXY) | $37.34 | $38.19 (+2.28%) |
| MARA Holdings (MARA) | $19.15 | $19.46 (+1.62%) |
| Riot Platforms (RIOT) | $18.99 | $19.29 (+1.58%) |
| Core Scientific (CORZ) | $17.80 | $18.29 (2.75%) |
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