Bitcoin has seen a significant decline since reaching a peak of $126,000 in October 2025, now sitting at approximately $59,000. Analysts at Standard Chartered believe this level signifies the bottom of its current cycle, suggesting that a crypto recovery is imminent and the future price trajectory is upward.
#What is the basis for believing $59,000 is the floor?
The drop from Bitcoin's peak to its current valuation represents a 53% decline, which might seem severe but is often part of Bitcoin's historical volatility. Standard Chartered's analysts assert that $59,000 is a strong support level that the cryptocurrency will not break again in this cycle. They have set a target of $100,000 for Bitcoin by the end of 2026, indicating a potential upside of about 70% from current pricing.