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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid shifting sentiment in the digital asset space, Standard Chartered suggests that Bitcoin is nearing a market bottom despite its recent slide toward the $61,000 level. Geoffrey Kendrick, the bank’s head of digital assets research, reaffirmed a bullish year-end price target of $100,000. The bank’s analysis indicates that the structural integrity of the market remains intact, driven by resilient spot ETF holdings and anticipated corporate actions from major holders like Strategy.
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Sign InThis outlook arrives as Bitcoin faces a 20% drawdown from its recent highs, a correction that Standard Chartered views as a precursor to further gains. Per market data, spot Bitcoin ETFs continue to hold approximately 674,000 BTC, signaling that institutional conviction has not wavered despite price volatility. This stability is notable when contrasted with broader macro signals, such as the German Inflation Rate which cooled to 2.6% (as of May 29, 2026), potentially impacting global liquidity and risk-on sentiment.
Looking ahead, Bitcoin remains sensitive to macroeconomic catalysts and central bank rhetoric. Investors should monitor upcoming speeches from Fed officials, including Kashkari and Schmid, for clues on monetary policy. With Bitcoin trading near key support levels at close of June 2026, the primary focus remains on whether ETF inflows can offset recent selling pressure to propel the asset toward Kendrick’s ambitious $100,000 milestone.