Despite Bitcoin dropping over 15% in the past week, momentarily slipping toward $61,000, Standard Chartered has reiterated its year-end price prediction of $100,000. The bank suggests that the current downturn could present a favorable entry point for investors. In a client note dated June 4, Standard Chartered highlighted that the catalysts behind the selloff are beginning to dissipate, even as bearish voices warn of further declines.
Geoffrey Kendrick, the bank’s global head of digital assets research, believes that Bitcoin’s floor is “nearly in place” following a sharp correction triggered by spot ETF outflows, forced liquidations, and concerns around Strategy’s recent Bitcoin sale. At the time of the note, BTC had rebounded from intraday lows to trade around the mid-$60,000 range, though it remains roughly 30% down year-to-date. Kendrick told clients that from the perspective of end-2026, current prices might be seen as an attractive buying opportunity.
One pillar of the bank’s optimism is Strategy’s history of re-entering the market after selling Bitcoin. Earlier this week, the company sold 32 BTC worth approximately $2.5 million to meet preferred stock distribution obligations, drawing attention given its long-standing accumulation strategy. Kendrick noted that Strategy previously sold Bitcoin in 2022 before quickly boosting its holdings, and he expects a similar pattern, with aggressive purchases resuming. The bank argues that the market reaction to this sale may have been overblown.
Another supportive factor is the resilience of spot Bitcoin ETF demand. According to Kendrick, cumulative net inflows since the launch of U.S. spot Bitcoin ETFs remain around $54.2 billion, with holdings declining modestly from a peak near 682,000 BTC to roughly 674,000 BTC. Standard Chartered views this trend as relatively stable. Additionally, the bank points to derivatives positioning: roughly $1.5 billion in leveraged Bitcoin futures positions were liquidated during the downturn, a figure comparable to previous corrections but below levels seen in major crashes.
Standard Chartered has also maintained its Ethereum targets of $4,000 by end-2026 and $40,000 by 2030, with Kendrick recently comparing Ethereum’s current weakness to Amazon’s experience during the dot-com bubble collapse. Meanwhile, the bank continues to expand its digital asset footprint, having recently widened its partnership with Coinbase to support institutional funding for multiple currencies and provide GSIB-backed settlement services.