“Buy the Dip”: Standard Chartered Says Amid Bitcoin Selloff

Standard Chartered’s Geoffrey Kendrick suggests purchasing Bitcoin during its current slump, driven by its correlation with the Nasdaq. Geoffrey Kendrick views the current bitcoin downturn as a strategic buying opportunity before the market regains stability.

Kendrick Shows Optimism on Bitcoin 

Geoffrey Kendrick’s optimistic stance on Bitcoin underscores its resilience amid market volatility and global economic uncertainty. Despite short-term price fluctuations and shifting market sentiment, Bitcoin’s inherent value proposition remains intact.

Meanwhile, Kendrick’s views reflect a long-term perspective, emphasizing Bitcoin’s potential to weather economic storms. The cryptocurrency’s decentralized nature and limited supply contribute to its appeal as a hedge against inflation. Similarly, Bitcoin’s ability to withstand market pressures and adapt to changing conditions reinforces its value proposition. 

Kendrick’s optimism is also rooted in Bitcoin’s fundamentals, which remain strong despite short-term market fluctuations. Recall that Kendrick predicted that Bitcoin’s price could rise as high as $125,000 following President Donald Trump’s election. Despite price volatility, analysts remain bullish on Bitcoin’s prospects. Several nations, including El Salvador, have incorporated Bitcoin as a strategic reserve. 

Growing Enthusiasm for the “buy the dip” Investment Strategy

Institutional investors have been aggressively buying Bitcoin since December 2024, accumulating over 34,000 BTC. 

This significant buying spree follows a major sell-off by institutional holders after Bitcoin’s price peaked. On December 17, Bitcoin’s price surpassed $108,000, triggering a substantial sell-off by institutional investors. Wallets holding 1,000 to 10,000 BTC primarily drove the sell-off, dumping 79,000 BTC in one week.

The massive sell-off led to a 15% correction in Bitcoin’s value, creating a buying opportunity for investors. Microstrategy recently added 10,107 BTC worth $1.1B to its Bitcoin stash. Meanwhile, analysts forecast a surge in corporate Bitcoin adoption, predicting over $50 billion in investments by 2025. MicroStrategy, with 471,107 BTC, is expected to lead this charge.

Factors Influencing the Bitcoin Price Movement 

Notably, the cryptocurrency market cautiously began the week, as Bitcoin fell below $100,000 for the first time since January 16. 

This decline coincides with growing macroeconomic concerns ahead of the Federal Open Market Committee meeting. Fresh tech sector disruptions driven by DeepSeek’s AI breakthrough also contribute to the market’s risk-off sentiment.

Additionally, Bitcoin’s price is being influenced by broader macroeconomic factors, reflecting cautious trader sentiment and market uncertainty. Upcoming Federal Reserve announcements and fluctuating interest rates are adding to the uncertainty. However, Bitcoin’s role as a store of value and its correlation with traditional markets remain topics of discussion.