Standard Chartered · Bitcoin · Strategy · SEC · Bitcoin Magazine
Standard Chartered Sees Bitcoin Bottom ‘Almost In’ as Sell-Off Cuts 14% in Seven Days
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Standard Chartered's Geoff Kendrick argues Bitcoin's sharp decline—driven by Strategy's surprise sale, ETF outflows, and liquidations—may be nearing a bottom.
Key facts
- Bitcoin traded around $63,739 on Wednesday, down from a 24-hour high of $67,416.50, after touching a session low near $61,463, the first time it breached that threshold since the February crash
- Total BTC held by the 11 U.S.-listed funds sits at approximately 674,000 BTC, down from a peak near 682,000 but broadly unchanged in structural terms
- Strategy’s own stock dropped near 6%, and STRC shares traded around $94
- For the full month of May, cumulative spot ETF outflows reached $2.30 billion, making it the worst month of 2026
Summary
Bitcoin shed 14% in seven days, sliding to levels not seen since February, as a convergence of institutional outflows, leverage liquidations, geopolitical pressure, and a shock sale from Strategy rattled digital asset markets. Yet Standard Chartered’s global head of digital assets research, Geoff Kendrick, told clients the bear market may be in its final stages, and that the low is “almost in.” “I think when we look back at the end of 2026 with BTC at $100k… we will say this was the buying zone we all wanted,” he wrote. Bitcoin traded around $63,739 on Wednesday, down from a 24-hour high of $67,416.50, after touching a session low near $61,463, the first time it breached that threshold since the February crash.