Short Description
Bitcoin (BTC) may finally reverse its six-week streak of losses this weekend, as favorable macroeconomic conditions emerge, according to Standard Chartered’s Geoffrey Kendrick.
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Main Article
After experiencing six consecutive weekends of negative returns, Bitcoin (BTC) is showing signs of potential recovery, according to Geoffrey Kendrick, the head of digital assets research at Standard Chartered. In a recent note shared with CryptoSlate, Kendrick emphasized Bitcoin’s painful pattern of weekend price declines that have persisted since early January. He attributed these declines to influential market-moving headlines, including turbulence stemming from DeepSeek-related news in late January and recent tariff uncertainties.
However, Kendrick has expressed optimism regarding the upcoming weekend as macroeconomic conditions begin to improve and U.S. bond yields trend lower. He noted that this shift could create a higher likelihood of positive performance for Bitcoin this weekend. “Given we have had the bad news (such as tariffs), and U.S. 10Y yields are currently down on the week (and very importantly below 4.5%), I think this weekend will be different,” he stated.
Kendrick’s analysis indicates that historical trading data supports a recovery. He pointed out that Mondays and Fridays have generally exhibited the strongest trading activity, in stark contrast to lackluster weekends characterized by lower liquidity and risk-averse trading behavior. He believes that even a minor positive catalyst over the weekend could ignite renewed ETF inflows on the subsequent Monday, potentially pushing Bitcoin beyond its recent trading range. “A small positive over the weekend can lead to ETF buying Monday after a week of ETF outflows,” he remarked, suggesting that successful performance may allow Bitcoin to test key resistance levels at $100,000 and $102,500.
In addition to the technical perspective on Bitcoin’s performance, Kendrick explored broader macroeconomic developments, particularly the implications of U.S. inflation data. The recent decreases in U.S. Treasury yields followed a softer-than-expected Consumer Price Index (CPI) report and a weaker-than-anticipated Producer Price Index (PPI) reading. This downward trend in Treasury yields, which are crucial for gauging borrowing costs and investor risk appetite, aligns favorably for digital assets like Bitcoin. Kendrick suggested that as trade tariffs come into play more favorably from a market perspective and optimism grows surrounding the geopolitical landscape, Bitcoin’s price could stabilize and even rise significantly. With Bitcoin trading at $97,348, he believes that recent developments position the cryptocurrency to reach key targets if supportive macroeconomic conditions ensue.
Short Summary
In summary, Bitcoin (BTC) could break its six-week losing streak this weekend, buoyed by favorable macroeconomic changes and investor sentiment. According to Geoffrey Kendrick of Standard Chartered, the combination of declining U.S. Treasury yields and reduced tariff concerns suggests a brighter outlook for the top cryptocurrency, positioning it to potentially test significant resistance levels in the near future.
