Standard Chartered's Kendrick Sees Turning Tide in Bitcoin Market

Standard Chartered's Head of Digital Assets Research Geoff Kendrick believes that Bitcoin has 'turned the tide' after a week he described as pivotal. In an interview on Saturday, he compared this moment to the March 2023 collapse of Silicon Valley Bank, which preceded a rally from $25,000 to above $100,000.

Kendrick said that whenever events like these occur, it signals 'the turn of the tide' for Bitcoin, reinforcing its core use case as a store of wealth outside central authority. He acknowledged that crypto had been overshadowed by AI-driven excitement and IPOs, but stated that 'crypto is back.'

Standard Chartered maintains a long-term Bitcoin target of $500,000, pushed from 2028 to 2030 last December. Kendrick's call echoed macro investor Jordi Visser, who argued that Bitcoin was an 'anti-decay' hedge as AI-driven competition compressed returns across every traditional asset class.