Standard Chartered is sticking with its $100K year-end Bitcoin price target for 2026. That number sounds bullish until you remember the bank originally called for $300K.
Geoffrey Kendrick, Standard Chartered’s global head of digital assets research, is framing Bitcoin’s recent slide below $60K as a temporary dip rather than a structural breakdown. His argument: the selling pressure came from a perfect storm of ETF outflows, forced liquidations, and one notable corporate seller, not from a fundamental deterioration in Bitcoin’s thesis.
The selloff, unpacked
June 2026 was rough for Bitcoin holders. The price dipped below $60K amid what Kendrick described as a confluence of short-term pain points.
Bitcoin ETFs saw over $2 billion in outflows, a record that rattled sentiment across the market. Strategy, the Michael Saylor-led company formerly known as MicroStrategy, conducted a small liquidation of its holdings, adding fuel to the fire. And leveraged traders got wiped out to the tune of $1.8 billion in liquidations.
