Bitcoin Trades at $61,800 on July 8, Down 51% From October Peak

BTC1.42%
According to Standard Chartered analyst Geoffrey Kendrick, Bitcoin traded near $61,800 on July 8, roughly 51% below its October 2025 record above $126,000, as analysts diverge on the cycle low. Kendrick told clients in mid-June that Bitcoin likely bottomed at approximately $59,000 on June 5, and the bank maintained its $100,000 year-end target, citing corporate treasury buying and spot ETF demand. Galaxy Research's base case, however, puts the cycle low between $40,000 and $46,000 before the fourth quarter of 2026. Citi cut its 12-month Bitcoin target to $82,000 from $112,000 on July 1, citing reduced ETF inflow assumptions.
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