Standard Chartered Identifies Three Key Signals for a Bitcoin Bottom
Bitcoin has fallen sharply since reaching a record $126,000 on Oct. 6, 2025, making $60,000 a critical support level in determining whether the bear market will continue. Geoff Kendrick, Standard Chartered's head of digital assets research, assessed the potential bottom through three factors: corporate buying, ETF flows and macroeconomic pressure. The signals could determine whether institutional investors return to the market.
Bitcoin fell as low as $59,375 on June 5, 2026, down 53% from its peak. Kendrick said on June 12 that $59,000 had marked the cycle low. By June 15, all three signals had turned bullish: Strategy disclosed the purchase of an additional 1,587 BTC, U.S. spot Bitcoin ETFs recorded $86 million in net inflows for the day, and oil prices continued to fall.
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The history behind this eventBitcoin Metrics Suggest February's Slide to $60,000 May Have Marked the Bottom
Bitcoin cycle bottoms typically require confirmation across several on-chain and derivatives indicators. Realized cap reflects holders' cost basis, RHODL measures the balance between long- and short-term holders, and funding rates capture sentiment in perpetual futures markets. A simultaneous stabilization across all three can therefore provide an important signal.
The latest analysis suggests Bitcoin's selloff to about $60,000 in February may have established a cyclical bottom. Realized cap remained stable at the time, RHODL readings entered a bottoming range and perpetual futures funding rates turned negative. Those signals suggest leveraged long positions were flushed out and that selling pressure may have been released in a concentrated burst.
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