![\"Standard](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/06\/d0a9177f-a7ae-4fe5-a4f1-a5276f40e297.jpg\")
<\/p>\n<\/p>\n
Standard Chartered analyst Geoff Kendrick says he believes crypto prices have already marked the low of the current cycle, pointing to a trio of signals he wants to see align before he fully confirms a turnaround. In his view, Strategy\u2019s recent Bitcoin<\/a> buying, renewed demand for US Bitcoin<\/a> exchange-traded funds (ETFs), and continued weakness in oil prices are together shaping a more constructive backdrop for risk assets like crypto.<\/p>\n In a client note published Friday, Kendrick put a specific level on his \u201ccycle low\u201d framework, estimating the trough at $59,000 for Bitcoin\u2014about 53% below the asset\u2019s prior cycle peak near $126,000. He also cited market reference pricing, noting Bitcoin last traded on Sunday around $63,704, according to CoinMarketCap<\/a> data.<\/p>\n Key takeaways<\/p>\n Geoff Kendrick of Standard Chartered argues crypto has likely seen the cycle low, estimating Bitcoin\u2019s trough at about $59,000.He highlights three confirmation indicators: additional Bitcoin purchases by Strategy, positive inflows into BTC<\/a> ETFs on Friday, and further declines in oil prices.SoSoValue data shows US Bitcoin ETFs saw net inflows of $85.84 million on Friday, with money flowing into five funds.Oil futures fell for a second straight day on Friday, according to Yahoo Finance data\u2014part of Kendrick\u2019s broader \u201cmacro risk\u201d read-through.The discussion comes as Strategy continues to provoke debate with its reported ability to sell Bitcoin for its \u201cdigital credit\u201d business.<\/p>\n Standard Chartered\u2019s \u201ccycle low\u201d checklist<\/p>\n Kendrick\u2019s approach is not a single-price call\u2014he ties his thesis to observable market flows and macro conditions. The most direct market-action item is Strategy\u2019s Bitcoin accumulation, which he described in reference to reporting that the firm bought more Bitcoin last week.<\/p>\n In addition, Kendrick looked to ETF flows. According to data tracked by SoSoValue, Friday brought one-day net inflows of $85.84 million into US-traded Bitcoin ETFs. Kendrick\u2019s note also reflects a distribution detail that matters for investors watching breadth: investors allocated into five of the funds, while eight saw no net change on the day.<\/p>\n The third leg of the framework is crude oil. Kendrick pointed to evidence that oil prices were continuing to break lower, with Yahoo Finance data showing crude oil futures fell on Friday for the second consecutive day. For investors, this is relevant because falling oil can shift expectations across inflation, growth, and broader risk appetite\u2014variables that often influence liquidity-sensitive assets such as crypto.<\/p>\n After laying out the indicators, Kendrick ended his note with a seasonal metaphor: \u201cWinter is over. Welcome back to crypto Spring.\u201d<\/p>\n Strategy\u2019s buying signals and Saylor\u2019s \u201cdots\u201d<\/p>\n As Kendrick\u2019s note circulated, Strategy founder Michael Saylor issued another social-media prompt that traders and long-time followers often treat as a prelude to further Bitcoin purchases. On Sunday, Saylor posted \u201cStill adding dots,\u201d alongside the bubble\/dot chart format that has become closely associated with Strategy\u2019s periodic purchase messaging.<\/p>\n The post drew significant attention on X by mid-afternoon ET, according to the article context, underscoring how retail and institutional audiences monitor Strategy\u2019s communications as part of their own flow expectations\u2014even when the underlying purchases ultimately depend on execution and timing.<\/p>\n What the ETF inflow data suggests\u2014and what to watch next<\/p>\n ETF inflows are among the most watched behavioral indicators in Bitcoin markets because they translate a portion of demand into a regulated wrapper and can be tracked daily. On Friday, the $85.84 million net inflow figure cited by SoSoValue suggests that, at least for that session, buyers showed up even as the market had been testing a lower range.<\/p>\n However, Kendrick\u2019s thesis is best read as a demand-for-confirmation setup rather than a guarantee. The \u201cconfirmation\u201d theme matters: one strong inflow day is not the same as sustained accumulation, and oil\u2019s trajectory can also change quickly. For investors, the practical question going forward is whether the combination Kendrick listed\u2014Strategy accumulation, repeat ETF inflows, and continued pressure on oil\u2014persists beyond isolated data points.<\/p>\n Another angle is that the distribution across funds matters. Kendrick\u2019s referenced split (five funds receiving inflows, eight unchanged) hints that demand was not concentrated into a single vehicle, but it also stops short of signaling broad-based acceleration across every ETF immediately.<\/p>\n The \u201csell\u201d debate inside Strategy\u2019s digital credit model<\/p>\n The turnaround narrative arrives alongside a separate development that has shaped how some observers interpret Strategy\u2019s Bitcoin policy. Cointelegraph<\/a> previously reported that Strategy disclosed its first reported Bitcoin sale since 2022, offloading 32 BTC<\/a> in a June 1 filing with the US Securities and Exchange Commission. The sale appeared to conflict with Saylor\u2019s well-known \u201cnever sell your Bitcoin\u201d messaging.<\/p>\n In defense of the decision, Saylor argued that the capacity to sell is necessary to support Strategy\u2019s \u201cdigital credit\u201d business. As he explained in remarks at BTC Prague, if the company\u2019s policy prevented selling Bitcoin entirely, it could undermine the value proposition for the credit products tied to Bitcoin treasury holdings\u2014because dividend-paying securities and other BTC-backed credit structures may require flexibility in how collateral is managed.<\/p>\n This matters for crypto investors because it reframes what \u201caccumulation\u201d means in Strategy\u2019s context. Rather than portraying Bitcoin holdings as entirely untouchable, the company\u2019s position\u2014based on the reported comments\u2014suggests a balancing act between keeping exposure and preserving the operational ability to support credit issuance and payout mechanics.<\/p>\n So while Kendrick is focused on signals that Strategy is buying more, the broader investor question is whether Strategy\u2019s credit strategy could also introduce future episodes of selling that are conditional on market and product needs. For traders, that nuance can influence expectations around how much \u201cbuy-side\u201d momentum to assume from headlines alone.<\/p>\n For the next phase, readers should watch whether ETF inflows continue across multiple sessions rather than just one day, and whether oil\u2019s downtrend persists alongside ongoing signals of Strategy accumulation\u2014while also tracking any additional disclosures that clarify how often Strategy\u2019s \u201cdigital credit\u201d requirements could translate into Bitcoin sales.<\/p>\n This article was originally published as Standard Chartered Identifies 3 BTC Bottom Signals After Monday News<\/a> on Crypto Breaking News<\/a> \u2013 your trusted source for crypto news, Bitcoin news, and blockchain updates.<\/p>\n","protected":false},"excerpt":{"rendered":"Standard Chartered analyst Geoff Kendrick says he believes crypto prices have already marked the low of the current…\n","protected":false},"author":2,"featured_media":59122,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21387],"tags":[28822,16862,28821,20677],"class_list":["post-62941","post","type-post","status-publish","format-standard","has-post-thumbnail","category-standard-chartered","tag-bitcoin-exchange","tag-crypto-exchange","tag-cryptocurrency-exchange","tag-standard-chartered"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/116750655404813347","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/62941","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=62941"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/62941\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/59122"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=62941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=62941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=62941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}