Bitcoin has reached a bottom at $59,000, marking the end of the crypto winter, according to a Standard Chartered analyst. The analyst noted that intense market demand is evident on exchanges like Hyperliquid, where SpaceX's crypto contracts have seen high trading volumes and valuations up to $2.4 trillion. The upcoming SpaceX IPO may alleviate selling pressure. Additionally, a potential G7-related peace deal between the U.S. and Iran could stabilize oil prices, which would help ease macroeconomic pressures on crypto markets. The analyst is monitoring key indicators, including a potential bitcoin purchase by Michael Saylor's Strategy and net-positive inflows for U.S. spot bitcoin ETFs. Meanwhile, oil prices have declined, with Brent crude at $87 and West Texas Intermediate at $85, amid fluctuating statements from U.S. President Donald Trump regarding the peace deal with Iran.
Bitcoin Bottoms at $59,000, Signaling End of Crypto Winter: Standard Chartered
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