There are growing indications that selling pressure in Bitcoin is easing and that the market may be setting up for a year end recovery.
Geoffrey Kendrick, head of digital asset research at Standard Chartered, says the latest decline aligns closely with major corrections from previous cycles and shows early signs of bottom formation. According to Kendrick, this pullback marks the third roughly thirty percent drop of the current cycle and follows historical patterns.
The analyst highlights that several key indicators have reached extreme levels. He notes that the return of the mNAV ratio to the 1.0 area points to deep value zones and strengthens the case that the selloff is approaching completion.
After Bitcoin briefly touched 89,420 dollars, Nansen analyst Nicolai Sondergaard observed that weakened liquidity makes prices more sensitive to small sell orders. Although a short move toward the mid eighty thousand range is possible, he sees current levels or a modest rebound as the more realistic scenario. This environment has brought year end targets back into focus.
