The bank cites a June 5 low of $59,000 as the cycle bottom and expects Bitcoin to rally 70% by year-end.
Standard Chartered’s digital assets research head Geoff Kendrick stated Bitcoin’s drop to $59,000 on June 5 marked the cycle low, signaling the end of the crypto winter. The bank maintains a $100,000 year-end target for BTC, implying a 70% upside from current levels near $66.5k.
Kendrick noted Ether is likely to outperform Bitcoin in the recovery, while recent inflows into BTC ETFs and easing macro pressures support the bullish outlook. The bank’s analysis suggests the current price range represents a key buying opportunity.
Bitcoin rose over the weekend, trading at $66.5k, as geopolitical tensions eased and ETF inflows rebounded after a month of outflows.