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Standard Chartered and Bitcoin: “It's ‘buy-the-dip’ time”
By Davide Grammatica
Bitcoin's recent decline does not worry Standard Chartered, which instead points to several opportunities at a complicated time for markets
Bitcoin down? Nothing to worry about
In these complicated hours for Bitcoin, dragged below $100k after hours of distress for the entire stock market due to losses in tech stocks, Standard Chartered is raising its sights on the premier cryptocurrency.
As hinted by Geoffrey Kendrick, an analyst at the financial giant, Bitcoin’s correlation with the Nasdaq would not undermine Bitcoin’s bullish stance, at least in the medium to long term. Consequently, this recent correction may be more of an opportunity for investors, at a time when the market may be readjusting.
BTC already now seems to prove the analyst right, responding with a significant rebound back above the $100k pricological level, and recovering after major liquidations.
As previously reported, weighing on the recent decline of the first cryptocurrency have been the concerns of shareholders of U.S. tech giants, born out of news about the Chinese new entry in the AI industry DeepSeek. Nvidia, for example, lost 13 percent in just a few hours.
The real “dip” could be touched in the next few days, when the earnings of some big tech giants such as Microsoft, Meta, and Tesla will be published, and most importantly, there will be news from the FOMC. “At that point,” as Kendrick pointed out to The Block, ”we will start to approach key levels for BTC.”
Expectations around Trump
The coming months will be largely determined, in addition to macro factors, by the moves of the new Trump administration . Still according to Kendrick, however, the risks of sharp declines would be averted by the president’s recent executive order, which explicitly mentioned the establishment of a working group that could evaluate a “national reserve” Bitcoin and crypto.
For this reason, too, the conditions for buying at a time of declining BTC would be ideal, for a general environment that, according to Standard Chartered still promises Bitcoin at $200,000 by the end of 2025.
