Geoffrey Kendrick, head of digital asset research at Standard Chartered, said bitcoin's recent correction appears to be over, noting that the decline is similar to earlier declines of nearly the same magnitude over the past two years.
Geoffrey Kendrick added that a number of market indicators had reset to extreme levels. For example, MicroStrategy's multiple of net asset value (mNAV), which compares a company's market capitalisation to the market capitalisation of its bitcoin holdings, has fallen to 1.0. These "absolute zero" readings suggest the market has bottomed out, he said.
Geoffrey Kendrick wrote: "I think this is enough to signal the end of the sell-off and ultimately refute those who believe the halving cycle is still in effect. My base case is for a rebound before the end of the year."
Standard Chartered: BTC Selling Is Over, Expect a Rally Before the End of the Year
2025-11-18 20:56:51
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