Standard Chartered Analyst Sees Bitcoin Rebound Potential by Year-End Despite Drop Below $90K

Bitcoin fell below $90,000 on November 19, prompting bearish sentiment, though Standard Chartered analyst Geoffrey Kendrick characterized the decline as the third deep correction within the current cycle, BlockBeats reports. Strategy's price-to-book ratio dropped to 1.0, suggesting prices may be approaching a bottom, with Kendrick projecting a potential rebound before year-end and viewing this as possibly the last sub-$100,000 dip of the cycle. Options data indicated downside risk to the mid-$80,000 range, while multiple market participants noted that leverage liquidation could create conditions for the next rally. BiyaPay analysts stated the market has entered a "deep correction plus leverage clearing" phase, with year-end rebound probability remaining intact if Bitcoin stabilizes near $90,000.