Standard Chartered executed its first digital asset prime brokerage trades with LMAX Group, using its own balance sheet to intermediate institutional Bitcoin trades in a move that advances bank-backed crypto market infrastructure.
Standard Chartered says crypto's cycle low is likely in, arguing that Bitcoin's drop to roughly $59,000 marked the bottom and that easing IPO-related selling pressure, improving macro conditions, and renewed institutional demand could pave the way toward its $100,000 year-end target.
Standard Chartered's Geoff Kendrick argues Bitcoin's sharp decline—driven by Strategy's surprise sale, ETF outflows, and liquidations—may be nearing a bottom.
Bitcoin price surged to $115,000 today, rising over 1% in 24 hours, as optimism over easing U.S.–China trade tensions and renewed investor appetite for risk assets lifted global markets.