Welcome to US Crypto News Morning Briefing. A critical overview of the most important developments in cryptocurrencies of the day.
Grab a coffee and take a breather as the market enters another big moment for Bitcoin (BTC). Some traders are bracing for a temporary dip below $100,000, while others are preparing to buy what could be one last big push before the next round of momentum builds.
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Today’s Crypto News: Standard Chartered Watch Money flows, liquidity and technicals for Bitcoin’s next big turnaround
Jeff Kendrick, head of foreign exchange and digital assets research at Standard Chartered, believes a short-term decline in Bitcoin prices below $100,000 is likely. However, he said this could be the last time Bitcoin trades at that level.
“…remain nimble and be prepared to buy if there is a drop below $100,000,” Kendrick urged investors in an emailed comment.
He said a potential decline could be the last entry point before entering another bullish phase. According to Kendrick, there are three key factors that determine when Bitcoin will rise.
Gold and Bitcoin flows, liquidity indicators, and technical support levels.
Kendrick pointed to a notable pattern between gold and Bitcoin, saying that Tuesday’s sharp decline in gold coincided with Bitcoin’s strong intraday rebound. RAAC founder Kevin Lasher said he expected the stock price to consolidate for an extended period of time and blamed profit-taking for the decline.
Nevertheless, Lasher says that even if gold prices remain flat, precious metals will continue to offer portfolio risk management and diversification benefits.
“Gold’s record rally this year is certainly not typical of this asset, but it remains an uncorrelated alternative. But what is still missing is the ability to easily put gold to work and earn yield. This ensures that investors will continue to hold gold for the long term, rather than just buying it for protection,” Lasher told BeInCrypto.
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Meanwhile, Kendrick expects this rotation to develop further in the medium term and sees this as constructive evidence that a market bottom is forming.
“It was probably a case of selling gold and buying Bitcoin…Gold has been significantly outperforming Bitcoin recently…Maybe something is starting to change,” Kendrick added.
The second factor he tracks is liquidity. Jeff Kendrick said some measures have primarily been tightened, citing financial conditions that may be constraining risk appetite.
He said the key question is when the US Federal Reserve determines these conditions are sufficiently “severe” and will respond. This could mean acknowledging the strain or stopping an ongoing quantitative tightening (QT) program.
Any sign of easing or a change in tone could be a big trigger for Bitcoin and other risk assets. On the technical side, Kendrick emphasized the resilience of Bitcoin’s long-term trend.
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“I’m not a technical analyst, but I note that Bitcoin’s 50-week moving average has held steady since early 2023 (when Bitcoin was $25,000 and I expect it to reach $100,000 by the end of 2024),” he clarified.
He suggested that this level remains an important zone for support and investor confidence. However, as recently reported by the US Crypto News publication, Standard Chartered said for 2025 that Bitcoin could reach $200,000 by the end of the fourth quarter.
Kendrick’s outlook captures a mood of cautious optimism across institutional desks as Bitcoin hovers near historic highs and market volatility intensifies.
The coming weeks may determine whether a long-awaited liquidity shift finally pushes Pioneer crypto into uncharted territory.
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