Standard Chartered Sees Year-End Bitcoin Rally Amid Sell-Off Signals

Standard Chartered, through its Head of Digital Asset Research Geoff Kendrick, believes the recent Bitcoin sell-off is a typical correction and forecasts a rally into year-end, noting that several on-chain metrics have reached historical lows, such as MicroStrategy's mNAV at 1.0. However, the market faces mixed signals: on-chain analyst Ali points out that Bitcoin's realized loss margin is at -16% (below the typical -12% rebound threshold), while the weekly SuperTrend indicator has flipped to sell, historically suggesting a drop toward $40,000. Macro factors also present headwinds, as high global liquidity is being absorbed by government debt yielding 4-5%, increasing the opportunity cost for speculative assets like Bitcoin. The bank's bullish outlook relies on the assumption that selling pressure has peaked, but investors must monitor volatility driven by macro adjustments and on-chain indicators.

(Source：BeInCrypto)