Standard Chartered Signals Crypto Winter Over as Bitcoin Bottoms Near $59K on June 15

According to Standard Chartered, on June 15, the bank's head of digital assets research Geoff Kendrick stated that Bitcoin's decline to approximately $59,000 in early June may have marked the cycle bottom, signaling that the "crypto winter has ended and the market is entering a crypto spring phase."

The bank maintained its year-end Bitcoin price target of $100,000 and expects Ethereum to outperform Bitcoin in the current rally. Kendrick's report identified three market headwinds easing simultaneously: liquidity pressure from SpaceX's IPO completion, geopolitical risk premium from the U.S.-Iran conflict resolution, and Bitcoin ETF outflows reversing to inflows after weeks of net redemptions.