Bitcoin returns to above $82,000, volatility hits 7-month high! Standard Chartered still sees Bitcoin reaching $200,000 by the end of the year

Bitcoin recovered yesterday's losses and rose 1.89%, returning to above $82,000. Yesterday, Bitcoin hit a new low for the year, reaching a low of $76,677.1.

According to Coinglass data, Bitcoin volatility rose to 3.38% yesterday, a new high since September 2024, and is now at 3.37%. In the past 24 hours, more than 100,000 people in the cryptocurrency market have been liquidated, with a liquidation amount of $405 million.

Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said that Bitcoin's recent price fluctuations are consistent with the performance of risky assets such as the "Big Seven U.S. Stocks", rather than problems with cryptocurrencies themselves. He pointed out that Bitcoin's decline is mainly affected by overall market sentiment. Kendrick remains optimistic about Bitcoin's long-term prospects and expects it to reach $200,000 by the end of 2025. He emphasized that the current market volatility increases the possibility of the Federal Reserve cutting interest rates, further consolidating his long-term bullish view.