Standard Chartered Says Crypto Market Has Bottomed

CryptoProwl

Fri, June 12, 2026 astatine 8:45 AM CDT 1 min read

British slope Standard Chartered (LON: STAN) says the cryptocurrency marketplace has apt bottomed. 

Geoffrey Kendrick, the bank’s planetary caput of integer assets research, says that Bitcoin’s caller driblet to of $59,000 U.S. was the rhythm debased constituent for the largest cryptocurrency.

Kendrick notes that Bitcoin fell 53% from a highest of $126,000 U.S. reached past October and is improbable to autumn beneath $60,000 U.S. again.

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The expert points to 2 imaginable catalysts for Bitcoin that could pb to a turning point. The archetypal is simply a U.S.-Iran bid woody that could region overmuch geopolitical uncertainty. 

The 2nd is the SpaceX archetypal nationalist offering (IPO) that whitethorn extremity a play of dense selling by Bitcoin exchange-traded money (ETF) holders.

Kendrick besides called connected Strategy (NASDAQ: $MSTR) to summation its Bitcoin purchases, which would lend enactment to immoderate betterment successful Bitcoin’s price.

“Winter is over. Welcome backmost to crypto Spring,” wrote the expert successful a enactment to clients.

Kendrick reiterated his forecast for Bitcoin’s terms to scope $100,000 U.S. by year’s end. 

“When we look backmost astatine the extremity of 2026 with Bitcoin astatine $100k we volition accidental this was the buying portion we each wanted,” helium wrote.

BTC (CRYPTO: $BTC) is trading astatine $63,300 U.S. connected June 12.