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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move reflecting growing optimism for digital assets, Standard Chartered analyst Geoffrey Kendrick stated that $59,000 marks the price bottom for Bitcoin and the end of the recent selloff. The analyst identified recovery catalysts in ETF flows, corporate buys, and potential geopolitical developments. Furthermore, the report noted that stabilizing oil prices and a potential U.S.-Iran peace deal could support risk-on assets in the coming period.
This bullish call comes as the market experiences shifts in risk appetite, with market data showing relative stability following sharp volatility in the first quarter. In comparison to peer assets, U.S. spot Bitcoin ETFs have seen net inflows exceeding $15 billion since their January launch, according to Bloomberg data. Traders are also closely monitoring gold and tech stocks, which often share a positive correlation with cryptocurrencies during periods of cooling inflation.
Regarding current levels, the related investment instrument (0A7O.L) stood at $116.83 (at close June 11, 2026). Investors are now looking ahead to the outcomes of the OPEC meeting and its impact on energy prices, alongside any fresh commentary from Fed officials, as these factors will influence liquidity levels in the crypto market. The $60,000 level remains a critical technical and psychological support zone for traders in the near term.
Update: A dissenting view has emerged from Galaxy Research, suggesting that Bitcoin's true bottom may still be months away, tempering expectations for an immediate recovery. Despite this disagreement on timing, both firms now align in rejecting the possibility of a traditional 80% market collapse, signaling a shift in the asset's cyclical behavior.