Standard Chartered calls 'crypto spring' as BTC signals…

Standard Chartered's head of digital assets research Geoffrey Kendrick declared the end of crypto winter on Monday, writing to clients: "Winter is over. Welcome back to crypto Spring." The call came after all three conditions Kendrick had set the previous Friday — renewed Strategy purchases, a return to positive ETF inflows, and continued oil price weakness — materialized over the weekend.

Strategy disclosed it bought another 1,587 BTC last week, cementing its position as the largest corporate bitcoin holder. U.S. spot bitcoin ETFs posted $86 million in net inflows on Friday after a prolonged stretch of redemptions. Oil prices continued to slide, easing fears that energy-driven inflation could push bond yields higher and crimp risk appetite.

Why it matters

Kendrick had flagged $59,000 as the likely cycle low, and the convergence of corporate buying, institutional ETF demand, and macro tailwinds now gives that call structural backing. Coinbase CEO Brian Armstrong separately said Monday he believes bitcoin may have already bottomed near $60,000 and remains "as bullish as ever." The alignment of two high-profile voices — one from TradFi research, one from the largest U.S. crypto exchange — carries weight for institutional allocators sitting on the sidelines.

Market impact

Bitcoin was trading around $66,300 at press time, up roughly 1% over 24 hours. Kendrick identified one remaining test: a decisive break above the early-May high near $83,000 would invalidate the pattern of lower highs and confirm a new uptrend. Until that level clears, the bullish thesis is building but not yet confirmed. Kraken's launch of perpetual futures for U.S. clients adds another layer of institutional infrastructure supporting the broader recovery narrative.