Standard Chartered analyst Geoffrey Kendrick has declared the crypto winter over, calling the current environment a 'crypto spring' after key bitcoin signals turned bullish. The call comes as spot bitcoin exchange-traded fund inflows resume, oil prices decline, and Coinbase CEO hints that bitcoin likely bottomed near $60,000.
The catalysts behind the shift include three major overhangs lifting: the Iran War conflict easing, the SpaceX IPO fading as a market distraction, and a reversal of prior ETF outflows. Kendrick's analysis suggests that macro pressures have abated enough to support a sustained recovery in digital assets.
Market reaction has been muted so far, with bitcoin holding steady above $65,000. The broader crypto sector, including ether and smaller altcoins, has seen modest gains. Analysts are watching for confirmation that the inflow trend holds, as previous false dawns have led to sharp pullbacks.
However, skeptics question whether the recovery is durable. The Decrypt report notes that the same overhangs—geopolitical risk, IPO uncertainty, and ETF flows—could re-emerge. 'But can they be trusted?' the outlet asks, underscoring that the rally may be fragile without sustained macro support.