Standard Chartered’s digital assets expert Geoffrey Kendrick has voiced a strong buy recommendation for Bitcoin as the cryptocurrency market mirrors Nasdaq’s recent volatility. Kendrick highlights the pronounced correlation between Bitcoin and tech-heavy Nasdaq which saw a notable drop influenced by external AI developments causing a ripple effect across tech stocks and cryptocurrencies alike.

The downward trend in Nasdaq was sparked by news from DeepSeek a Chinese AI firm that introduced a new cost-effective AI model challenging established players and impacting U.S. tech stock valuations. This turmoil has trickled into the crypto sphere with significant liquidations overnight but Kendrick remains optimistic about Bitcoin’s resilience and potential rebound.

Amidst the market’s fluctuations and recent crypto directives from the Trump administration Kendrick encourages investors to capitalize on the current dip. Pointing to the “buy the dip” phase as a strategic move he predicts substantial institutional investments driving up Bitcoin prices significantly by year’s end.