![\"cryptocurrency](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/06\/6ec893169bdf2538c5e8d127273504d2.png\")
cryptocurrency coins NEW SIZE \u00a9QuoteInspector.com <\/p>\n cryptocurrency coins NEW SIZE \u00a9QuoteInspector.com <\/p>\n
Standard Chartered believes the worst of the current cryptocurrency downturn may already be over, arguing that Bitcoin (COIN:BTCUSD) established its cycle low when it briefly fell to $59,000, representing a 53% drop from its $126,000 peak.<\/p>\n
According to Geoffrey Kendrick, the bank\u2019s Global Head of Digital Assets Research, several near-term developments could help validate the view that the market is beginning a new recovery phase.<\/p>\n
U.S.-Iran Developments and SpaceX Debut Could Shift Sentiment <\/p>\n
Writing on Friday, Kendrick highlighted a potential peace agreement between the United States and Iran as one of the most important macroeconomic factors for crypto markets.<\/p>\n
Should negotiations succeed, the agreement \u201cmay sound the end to higher oil prices and therefore higher UST yields,\u201d he said.<\/p>\n
The analyst also cited the IPO of SpaceX (NASDAQ:SPCX) as another potentially significant catalyst.<\/p>\n
Kendrick suggested that many Bitcoin ETF investors have recently been selling positions to raise funds ahead of the landmark public offering, contributing to unusually large ETF outflows.<\/p>\n
Those withdrawals have ranked among the biggest since spot Bitcoin ETFs were introduced.<\/p>\n
Key Signals to Watch Next Week <\/p>\n
Kendrick said several indicators would help confirm that Bitcoin has successfully established a bottom.<\/p>\n
Among them are fresh Bitcoin purchases by Strategy (NASDAQ:MSTR), a return to positive ETF flows, and further declines in crude oil prices.<\/p>\n
\u201cWinter is over. Welcome back to crypto Spring,\u201d he wrote.<\/p>\n
Forecast for Bitcoin at $100,000 Remains Unchanged <\/p>\n
The latest comments are consistent with Kendrick\u2019s bullish outlook issued earlier this month.<\/p>\n
At that time, he maintained his prediction that Bitcoin could reach $100,000 before the end of 2026.<\/p>\n
\u201cWhen we look back at the end of 2026 with bitcoin at $100k we will say this was the buying zone we all wanted,\u201d he said.<\/p>\n
Institutional Selling Still Weighs on Prices <\/p>\n
Despite signs of stabilization, Bitcoin remains under pressure.<\/p>\n
The digital asset has fallen by more than 50% since reaching its October high, even as the Trump administration has implemented a number of policies viewed as supportive of the cryptocurrency industry.<\/p>\n
Bitcoin gained 0.9% on Friday to trade at $63,337.8 and was heading for a small weekly advance.<\/p>\n
Nevertheless, that gain came after a sharp 17% decline during the previous week.<\/p>\n
While confidence may be starting to improve, Bitcoin continues to hover near annual lows amid ongoing institutional selling through spot Bitcoin ETFs.<\/p>\n","protected":false},"excerpt":{"rendered":"cryptocurrency coins NEW SIZE \u00a9QuoteInspector.com Standard Chartered believes the worst of the current cryptocurrency downturn may already be…\n","protected":false},"author":2,"featured_media":62717,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21387],"tags":[3408,27550,12735,22791,30081,20677],"class_list":["post-62716","post","type-post","status-publish","format-standard","has-post-thumbnail","category-standard-chartered","tag-bitcoin","tag-bitcoin-etf","tag-cryptocurrency","tag-geoffrey-kendrick","tag-global-head-of-digital-assets-research","tag-standard-chartered"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116748500607867266","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/62716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=62716"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/62716\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/62717"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=62716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=62716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=62716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}