TechFlame News: Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, stated in his latest report that Bitcoin's drop to around $59,000 in early June may have marked the bottom of the current cycle, adding that "the crypto winter has ended, and the market has entered the crypto spring phase." The firm maintains its year-end Bitcoin price target of $100,000 and expects Ethereum to outperform Bitcoin in the current uptrend cycle. The report indicates that three major factors that had been weighing on the crypto market are now easing simultaneously: the liquidity pressure triggered by SpaceX's IPO, the geopolitical risk premium from the U.S.-Iran conflict, and the persistent outflows from ETF funds. Specifically, market liquidity pressure is expected to ease following SpaceX's listing completion; the U.S. and Iran reaching a peace framework has driven oil prices lower; and Bitcoin ETFs have shown signs of net inflows after weeks of consecutive outflows. Analysts believe that with the temporary easing of macroeconomic and liquidity pressures, sentiment in the crypto market is recovering. However, the sustainability of these variables still needs further verification, and uncertainty remains as to whether the market has truly entered a new upward cycle.