Standard Chartered Bank calls out, “Bitcoin’s bottom has been reached”! It lists two major bullish reasons: the year-end outlook remains unchanged at $100,000.

According to foreign media outlet The Block, Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, released a new client report today (4th) stating that after a tough week in the crypto market, the bottom for Bitcoin (BTC) is "almost here." He believes that spot ETF holdings demonstrate structural resilience, coupled with expectations that Strategy companies will significantly buy back Bitcoin. The market has now entered an excellent "buy zone," and the bank maintains its year-end target of Bitcoin reaching $100k.
(Background summary: The Great Escape! Bitcoin drops below $63k, hitting a 14-day low, with 166k traders liquidated totaling $1.12 billion, with multiple accounts accounting for 85%)
(Additional background: U.S. Treasury Secretary Yellen calls on legislators to pass the "Clarity Act" this summer! Previewing that the "Strategic Bitcoin Reserve" is being cautiously advanced)

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• ETF holdings show resilience, fears in February did not materialize
• Selling pressure from Strategy may turn into buying, liquidation wave may be near its end
• Year-end $100k target remains, suggesting to accumulate on dips

After a painful week of consecutive declines in Bitcoin (BTC), the market is searching for signals to stabilize and rebound. Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, issued reassurance in a client report on June 4, 2026, stating that the worst period in the crypto market may be ending, and the Bitcoin bottom is "almost here."

ETF holdings show resilience, fears in February did not materialize

Kendrick had pessimistically predicted in February that Bitcoin and Ethereum might drop to $50,000 and $1,400 respectively, with his biggest concern being a collapse-like sell-off in ETF holdings. However, actual data changed his outlook.

He pointed out that the total holdings of spot Bitcoin ETFs have only slightly declined from a peak of 682k BTC to about 674k BTC, showing overall stability. Kendrick emphasized that this clearly indicates ETF holdings possess stronger structural resilience than he expected, and there has been no panic sell-off due to recent price declines.

Strategy selling pressure may turn into buying, liquidation wave may be near its end

Regarding the intense market volatility this week, Kendrick believes the main short-term trigger was Strategy selling 32 BTC to pay dividends, marking the company's first sale since the FTX collapse in 2022. The timing perfectly aligns with bearish narratives.

Nevertheless, he reviewed history, noting that Strategy sold 704 BTC at the end of December 2022 for tax optimization but quickly bought back 810 BTC two days later. Kendrick anticipates that this time, Strategy might undertake a large-scale buyback of 10 times that amount (about 3,200 BTC) or even up to 100 times (around 32,000 BTC). Once confirmed, such a buyback would signal that a low has been established.

Year-end $100k target remains, suggesting to accumulate on dips

Additionally, this week’s crypto futures market saw liquidation volumes reaching $1.5 billion, comparable to major liquidation events at the end of January and early February this year, indicating that fragile bullish positions have been significantly washed out. While Kendrick admits there remains residual downside risk of breaking below $60,000, he continues to hold a constructive overall view on digital assets.

He emphasizes that rather than precisely predicting the absolute bottom, investors should start gradually accumulating assets. Standard Chartered still maintains its year-end targets of Bitcoin at $100,000 and Ethereum at $4,000, and is optimistic that when these targets are met, investors will be glad that they are in the "buy zone" everyone has been dreaming of.