‘Crypto spring’ is here, says one analyst after bitcoin's key signals turn bullish

Markets ‘Crypto spring’ is here, says one analyst after bitcoin's key signals turn bullish Standard Chartered analyst Geoffrey Kendrick's bullish call comes as spot bitcoin exchange-traded fund inflows return, oil prices fall and Coinbase's CEO says bitcoin likely bottomed near $60,000. By Helene Braun | Edited by Stephen Alpher Jun 15, 2026, 2:16 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on (Getty Images) Summary Show Standard Chartered analyst Geoffrey Kendrick says bitcoin likely hit its cycle low around $59,000, citing improving investor flows, corporate buying and easing macro pressures. His confidence grew after MicroStrategy resumed bitcoin purchases, U.S. spot bitcoin ETFs returned to net inflows and oil prices continued to fall, reducing inflation worries. Kendrick says a decisive break above bitcoin’s early May high near $83,000 would strongly confirm a new uptrend, with the cryptocurrency recently trading around $66,300. Standard Chartered's head of digital assets research Geoffrey Kendrick says bitcoin BTC $ 66,424.56 may have already put in its low for the current market cycle, arguing that a combination of improving investor flows, corporate buying and easing macroeconomic pressures points to a stronger recovery ahead. The latest call marks a shift in sentiment after several months in which crypto markets struggled with rising geopolitical tensions, concerns about inflation and persistent outflows from U.S. spot bitcoin exchange-traded funds (ETFs.) Last Friday, Kendrick told clients he believed bitcoin's decline to roughly $59,000 represented the cycle low. At the time, however, he outlined three developments he wanted to see before gaining more confidence in that view: renewed bitcoin purchases by Strategy (MSTR), a return to positive ETF inflows and continued weakness in oil prices. By Monday, all three had materialized. Strategy, the largest corporate holder of bitcoin, disclosed that it purchased another 1,587 BTC last week. U.S. spot bitcoin ETFs posted net inflows of $86 million on Friday after a stretch of notable redemptions. Oil prices also continued to move lower, reducing concerns that higher energy costs could push inflation and bond yields upward. "Winter is over. Welcome back to crypto Spring," Kendrick wrote. The ETF trend has attracted particular attention. Spot bitcoin ETFs have become one of the most important sources of demand for the cryptocurrency since their U.S. launch in January 2024. Kendrick noted last week that recent selling had been among the sharpest since the products debuted, suggesting some investors may have been raising cash to participate in the anticipated SpaceX (SPCX) IPO , though he described that explanation as anecdotal. The broader backdrop for crypto has also improved. Last month, easing regulatory barriers for crypto derivatives in the U.S. and growing institutional participation helped support sentiment. Crypto exchange Kraken, earlier today, launched perpetual futures to U.S. clients, joining a list of companies to offer the newly-popular derivatives product onshore. Meanwhile, bitcoin has continued to attract treasury allocations from public companies seeking exposure to the asset. Still, Kendrick said one major test remains. Market observers have pointed to bitcoin's pattern of making lower highs during recent rallies. To invalidate that concern, he said bitcoin needs to break above the $83,000 level reached in early May. The asset currently stands at $66,300 as press time, up about a percent over the past 24 hours. Coinbase CEO Brian Armstrong said on Monday that he too believes bitcoin may have already bottomed near $60,000 and that he remains "as bullish as ever" on the cryptocurrency. If it does, Kendrick believes the case that a new uptrend is underway will become much stronger. Bitcoin News Related Assets Bitcoin $ 66,424.56 3.89 % Latest Crypto News 1 Kraken debuts U.S. perpetual futures as crypto derivatives move onshore 9 minutes ago 2 Coinbase's Brian Armstrong says bitcoin may have bottomed at $60,000 47 minutes ago 3 XRP rockets 8% above $1.20 in first major breakout since June selloff 51 minutes ago 4 CoinDesk 20 performance update: Bittensor (TAO) surges 31.9%, leading index higher 57 minutes ago 5 Bitmine adds another $136 million of ether after raising $274 million in preferred stock sale 1 hour ago 6 Michael Saylor's Strategy acquires another 1,587 bitcoin for $100 million 2 hours ago 7 Markets cheer U.S.-Iran Breakthrough though Middle East risks, Fed remain in focus 2 hours ago 8 U.S.-Iran deal lifts equities, sends oil lower, while crypto stays wary 2 hours ago 9 Middle East ceasefire, Fed interest-rate decision: Crypto Week Ahead 4 hours ago 10 Trump-linked stablecoin used for bonus payouts at White House UFC contest 6 hours ago Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research 2 hours ago In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Markets Kraken debuts U.S. perpetual futures as crypto derivatives move onshore Coinbase's Brian Armstrong says bitcoin may have bottomed at $60,000 XRP rockets 8% above $1.20 in first major breakout since June selloff More From Bitcoin Kraken debuts U.S. perpetual futures as crypto derivatives move onshore Coinbase's Brian Armstrong says bitcoin may have bottomed at $60,000 XRP rockets 8% above $1.20 in first major breakout since June selloff