Bitcoin Bottom Is in: Standard Chartered Declares End of Crypto Winter

Standard Chartered Says Bitcoin Bottom Is successful After $59,000 Low

Standard Chartered Bank’s planetary caput of integer assets research, Geoffrey Kendrick, said connected June 12 that crypto plus prices person apt reached their rhythm low, placing bitcoin’s level astatine $59K aft a 53% diminution from its $126K high. Kendrick connected the telephone to catalysts emerging this week.

The appraisal marked a displacement from Standard Chartered’s February outlook, erstwhile the slope projected bitcoin could autumn toward $50,000 earlier recovering aboriginal successful the year. Kendrick’s latest enactment indicated the marketplace whitethorn person already established its rhythm debased astatine $59,000.

He wrote:

“I deliberation we person present seen the debased successful crypto plus prices for the cycle. That would beryllium $59K for BTC (53% down from $126K high).”

The caput of integer assets probe identified 2 developments that could enactment the shift. He cited a G7-related U.S.-Iran bid deal, which could unit lipid prices and U.S. Treasury yields. He besides pointed to the SpaceX IPO, saying exchange-traded money (ETF) holders had been selling bitcoin vulnerability to escaped up currency for the offering.

Confirmation would necessitate respective markers, according to Kendrick. He wants to spot Strategy (Nasdaq: MSTR) denote further bitcoin purchases connected Monday. He besides said a instrumentality to affirmative ETF inflows and continued declines successful lipid prices would assistance validate the call.

ETF Selling and Macro Headwinds Shaped Earlier Bitcoin Outlook

In a Feb. 12, 2026, Global Research report, Standard Chartered forecast that bitcoin could autumn to astir $50,000 and ethereum to astir $1,400 earlier recovering aboriginal successful the year.

Kendrick’s latest enactment marked a displacement from that outlook, with the bank’s caput of integer assets probe stating that bitcoin apt established its rhythm debased astatine $59,000. He wrote connected June 12:

“Winter is over. Welcome backmost to crypto Spring.”

Long-Term Crypto Forecasts Hold Despite 2026 Reductions

Forecast revisions successful the February study lowered the bank’s end-2026 targets to $100,000 for bitcoin and $4,000 for ethereum. Standard Chartered had antecedently projected $150,000 for BTC and $7,500 for ETH, portion leaving its end-2030 forecasts unchanged.

Standard Chartered’s forecasts for BTC, ETH, SOL, and XRP. Source: Feb 2026 probe report

Long-term targets remained astatine $500,000 for bitcoin, $40,000 for ethereum, $2,000 for solana ( SOL), and $28 for XRP. The slope besides reduced its forecasts crossed 2027, 2028, and 2029.

The February probe enactment stated:

“Once the lows person been reached, we expect the plus people to retrieve for the remainder of 2026.”