Bitcoin Price News: Sell-Off Likely 'Complete', Year-End Rally in Play

According to Geoffrey Kendrick, head of digital asset research at Standard Chartered, Bitcoin's recent decline may be concluding, marking the third significant 30% correction since the launch of spot Bitcoin ETFs in the U.S. The cryptocurrency dropped below $90,000, nearly 30% down from its all-time high of over $126,000. Kendrick argues that the current pullback aligns with previous patterns and suggests that market indicators, such as modified net asset value metrics from firms like MicroStrategy, signal seller exhaustion. He believes the current market conditions align with historic bottom levels, indicating that the sell-off may be over and anticipates a year-end rally. This perspective is supported by other analysts noting a slow-down in short-term realized losses and emerging capitulation signals, typical signs of a market bottom. Bitcoin's price bounced back to nearly $93,000, reflecting a possible recovery trend.

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