Standard Chartered: Crypto Winter Is Over, BTC to $100K
Standard Chartered's Geoff Kendrick declared the crypto winter over, identifying Bitcoin's slide to $59K as the cycle low and projecting a $100K year-end target. Easing war, IPO, and ETF outflow headwinds are fueling a bullish shift.
Quick Take
Standard Chartered sees Bitcoin cycle low at $59K, calls end of crypto winter.
Bank forecasts BTC at $100K by year-end, Ether to outperform.
Easing Iran war, SpaceX IPO, and ETF outflows drive renewed optimism.
BTC ETFs see $85M inflow Friday, halting weeks of outflows.
Market Impact Analysis
BullishBullish call from a major bank combined with improving macro conditions could sustain upward momentum.
Speculation Analysis
Key Takeaways
- Standard Chartered signals end of crypto winter, identifies $59K as Bitcoin's cycle low.
- Bank projects BTC at $100K by year-end, expects Ether to outperform on the rally.
- Easing Iran war, SpaceX IPO liquidity drain, and ETF outflows drive renewed bullishness.
- BTC ETFs see $85M in inflows on Friday, halting weeks of outflows.
What Happened
Standard Chartered’s head of digital assets research, Geoff Kendrick, declared the crypto winter over. In a Friday note, he pinned Bitcoin’s slide to $59,000 on June 5 as the cycle low and maintained a year-end target of $100,000—roughly 70% above current levels. The call follows weeks of grinding pressure that pushed BTC to multi-month lows. With three key headwinds now lifting, the bank sees a spring resurgence taking hold.
The Numbers
Bitcoin’s $59,000 trough on June 5 now looks like a definitive floor. Standard Chartered’s $100,000 year-end target implies a potential 50% gain from here. On Friday, BTC ETFs pulled in $85 million, reversing a brutal streak of outflows that had drained $5 billion since mid-May. Bitcoin traded at $66,500, while Ethereum added 7% and altcoins like Hyperliquid (HYPE) surged 12%. Zcash (ZEC) popped 20% after a clean audit.
Why It Happened
Three overhangs stifled crypto for weeks. First, the SpaceX IPO created a liquidity vacuum as traders sold Bitcoin to fund allocations—now the deal is closed and SPCX jumped 19% on debut. Second, Iran war fears eased after Trump declared an end to hostilities, sending oil below $81. Third, ETF flows turned positive after relentless outflows. These simultaneous shifts cleared the path for a sentiment reset.
Broader Impact
A major bank calling the end of crypto winter could catalyze institutional re-engagement. Ether’s expected outperformance may accelerate rotation into DeFi and layer-2 tokens. If ETF inflows sustain, the liquidity tide could lift the entire asset class. However, peace deal skepticism and post-IPO hangover risk persist.
What to Watch Next
- Monitor daily BTC ETF flows for confirmation of sustained demand.
- Track oil prices and Iran peace deal developments for macro stability signals.
- Watch ETH/BTC ratio and altcoin volume spikes as risk appetite returns.
This article is for informational purposes only and does not constitute financial advice.
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