BlockBeats News, June 15th, Geoff Kendrick, Digital Asset Research Director at Standard Chartered Bank, stated in a recent report that Bitcoin dropped to around $59,000 in early June, marking the bottom of this cycle, and that "the crypto winter has ended, with the market entering the crypto spring phase."

The institution maintains a year-end price target for Bitcoin of $100,000 and expects Ethereum to outperform Bitcoin in this current uptrend cycle.

The report points out that the three major factors that previously suppressed the crypto market are easing simultaneously, including liquidity pressure from the SpaceX IPO, geopolitical risk premium from the US-Iran conflict, and ongoing outflows from ETF funds.

Specifically, after the SpaceX listing is completed, market liquidity pressure is expected to ease; a peace framework between the US and Iran is pushing oil prices back down; and Bitcoin ETFs are showing signs of inflows after weeks of consecutive outflows.

The analysis believes that as macro and funding pressures are temporarily relieved, the sentiment in the crypto market is recovering. However, the sustainability of the above variables still needs further validation, and the uncertainty remains as to whether the market is truly entering a new uptrend cycle.