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Bitcoin nears market bottom as Standard Chartered sees buying signals despite recent 14% drop.

Market News
04 Jun 2026
Coindesk
View Source
Bullish
pluang ai news

Bitcoin has dropped 14% in a week, falling below $63,000 for the first time since February, causing concern among investors. However, Standard Chartered's digital assets head Geoff Kendrick believes the market low is near, citing three key factors: Strategy's potential large bitcoin buyback after a recent small sale, stable ETF holdings despite recent outflows, and most leveraged futures liquidations already done. While uncertainties remain, Kendrick suggests this could be a good buying opportunity, predicting bitcoin could reach $100,000 by the end of 2026 if current patterns hold. The bitcoin price is also trading near its 200-week moving average, a historical indicator of bear market bottoms.

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