Bitcoin Bottom at $59K? Standard Chartered Declares With $100K Target

Bitcoin has faced a tough time lately. After hitting a high of $126K in October 2025, the price dropped by 53 percent. Many people wondered if the bad times would last. Now, a top bank analyst says the worst is behind us.

Analyst Calls End of Crypto Winter

Geoffrey Kendrick works at Standard Chartered as the Global Head of Digital Assets Research. In a note sent to clients around June 12, he said Bitcoin likely hit its low point near $59K on June 5. He wrote, “Winter is over. Welcome back to crypto Spring.”

Bitcoin traded between $63K and $64K right after the note came out. That is about 7 to 8 percent higher than the low point. Some traders saw this as a sign that the market may be turning around.

Why the Bank Stays Bullish

Standard Chartered keeps its year-end price goal at $100K for Bitcoin. This means the bank sees about 56 percent more upside from current levels. The bank also holds a $4K target for Ethereum by the end of the year.

Kendrick pointed to two main reasons for his view. First, big companies are buying Bitcoin for their own treasuries. Second, money keeps flowing into spot Bitcoin ETFs. These two forces did not exist in past market drops.

Corporate Buying Adds Support

MicroStrategy stands out as the biggest corporate holder. The company has turned itself into a Bitcoin-focused firm under Michael Saylor. As of June 8, it owned 845,256 BTC. That equals roughly 4 percent of all Bitcoin that will ever exist.

The firm added another 1,550 BTC in recent weeks. Even during the big price drop, MicroStrategy kept buying. This steady demand helps calm the market and shows long-term belief in Bitcoin.

New Market Structure Changes the Game

Older crypto winters happened when retail traders and high-leverage trading ruled the market. Today the picture looks different. Spot Bitcoin ETFs give big investors an easy and regulated way to buy. Corporate treasuries add steady buying pressure. The whole market also uses more mature tools for trading.

These changes give Bitcoin stronger support than before. If the price stays above $59K, the recovery story gains strength. A move up toward $70K or $75K with higher trading volume would show the uptrend is real.

What Comes Next

Bitcoin now sits near $63K to $64K. The gap to the $100K target remains large, but the bank sees clear reasons for optimism. Corporate buying and ETF flows continue to act as safety nets.

Traders will watch price action closely. A break below $59K would change the outlook. But if Bitcoin holds and climbs, the “crypto spring” idea could gain more followers.

The market has new tools and new buyers this time. That makes the current cycle stand apart from past ones. Standard Chartered’s note gives one clear message: the hard part may be over, and better days could lie ahead.