Standard Chartered Says Bitcoin Must Hold the Line for DeFi to Beat TradFi | US Crypto News

• Standard Chartered says Bitcoin’s strength determines DeFi’s ability to rival TradFi.
• Geoff Kendrick calls BTC the “apex asset” of decentralized finance.
• Bank outlines three-step Bitcoin accumulation plan below $100,000.

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.

Grab a coffee! Standard Chartered’s latest market note is not just about price targets. Geoff Kendrick, the bank’s Head of FX and Digital Assets Research, says Bitcoin now carries the weight of DeFi’s future. If it collapses, so could the dream of decentralized finance.

Crypto News of the Day: Standard Chartered Says Bitcoin Carries the Weight of DeFi’s Future {#h-crypto-news-of-the-day-standard-chartered-says-bitcoin-carries-the-weight-of-defi-s-future}

Standard Chartered’s Head of FX and Digital Assets Research, Geoff Kendrick, has warned that DeFi’s future hinges on one crucial condition: that Bitcoin remains structurally sound.

Speaking ahead of the Singapore FinTech Festival (SFF), Kendrick described Bitcoin as the “apex asset” underpinning DeFi’s growth. He also noted that any major collapse would undermine the broader digital finance movement.

“It is fair to say these days I spend most of my time talking about DeFi taking over TradFi…but for that to be possible, as the apex asset, Bitcoin needs to not collapse,” Kendrick wrote in an email.

His comments come as institutions, regulators, and innovators plan to converge in Singapore next week to discuss blockchain infrastructure and the future of open finance.

For Standard Chartered, one of the few major banks to actively publish digital asset research, Kendrick’s framing represents a shift from speculative to systemic thinking about Bitcoin’s role in the global economy.

While many analysts focus on price targets, Kendrick’s recent commentary emphasizes Bitcoin’s stability as a foundation for DeFi’s legitimacy.

“DeFi can’t replace traditional finance if its cornerstone asset is volatile or unreliable,” one market observer said in response to Kendrick’s remarks.

Against this backdrop, Kendrick laid out a structured three-step accumulation plan for Bitcoin investors, suggesting that the recent dip below $100,000 “may be the last one ever.” His proposed strategy includes:

• Buying 25% of a target allocation at current levels,
• Another 25% if Bitcoin closes above $103,000, and
• The remainder (50%) once the Bitcoin–gold ratio climbs above 30.

It aligns with remarks from a previous note to clients, where Kendrick stated that Bitcoin’s sub-$100,000 moves could be its last. As indicated in a US Crypto News publication, the bank’s executive noted that it would also mark the final entry point before a renewed bull phase.

Charts of the Day {#h-charts-of-the-day}

50-week MA matters = Friday “close” of 103k above/below matters. Source: Kendrick Bitcoin-gold ratio matters = I would like it above 30. Source: Kendrick 5-day MA of ETF inflows (USDmn) = outflows from both now. Source: Kendrick

Byte-Sized Alpha {#h-byte-sized-alpha}

Here’s a summary of more US crypto news to follow today:

• Ethereum whales buy $1.37 billion in ETH amid 12% November price drop.
• Bitwise CIO Matt Hougan: “Good DATs do hard things — bad DATs Get Punished.”
• Circle bows to Second Amendment pressure in latest USDC policy update.
• Robinhood Q3 crypto revenue surges to $268 million. Will they launch a token?
• Metaplanet defies Bitcoin bear: Leveraging for long-term treasury.
• Chainlink secures major deal with SBI Digital Markets amid LINK supply drop.
• Zcash price breakout extends with volume support — No sign of exhaustion yet.
• Why Internet Computer’s (ICP) 100% rally might just be getting started.

Crypto Equities Pre-Market Overview {#h-crypto-equities-pre-market-overview}

|--------------------------------|--------------------------------|-------------------------| | Company | At the Close of November 5 | Pre-Market Overview | | Strategy (MSTR) | $255.00 | $252.70 (-0.90%) | | Coinbase (COIN) | $319.30 | $318.90 (-0.13%) | | Galaxy Digital Holdings (GLXY) | $31.44 | $32.17 (+2.32%) | | MARA Holdings (MARA) | $17.33 | $17.09 (-0.23%) | | Riot Platforms (RIOT) | $18.97 | $19.03 (+0.32%) | | Core Scientific (CORZ) | $21.80 | $21.96 (+0.73%) |

Crypto equities market open race: Google Finance