Standard Chartered Predicts End of Bitcoin Adjustment, Foresees Year-End Rally as Base Scenario

Jeffrey Kendrick, the head of digital asset research at major British financial institution Standard Chartered Bank, expressed on the 19th that the current price adjustment phase for Bitcoin (BTC) has concluded, as reported by The Block and others. Kendrick pointed out that several market indicators have reset to extreme levels. The strategy's net asset value multiplier (mNAV) has dropped to the 1.0 range (currently at 1.25), and these 'zero point' figures suggest that the market has bottomed out. He stated, 'This is sufficient to indicate that selling has ended, and it will ultimately refute those who still believe in the efficacy of the halving cycle.'