Standard Chartered: Bitcoin Sell-Off Nears Bottom at $62K, Holds $100K Target

Standard Chartered declared on June 4 that Bitcoin’s sell-off is nearing a bottom after the asset fell 14% in a week to around $62,500. The bank cited resilient spot-BTC ETF holdings near 674,000 BTC, $1.5 billion in cleared futures liquidations, and expectations that Strategy will repurchase far more than its recent 32 BTC tax-driven sale. Earlier June 3 reports from Binance Research and Citi attributed the weakness to record equity-market concentration (Cboe Dispersion Index at 42) and $3.77 billion in ETF outflows, while Charles Schwab noted Bitcoin had lost its momentum trade to AI stocks. Standard Chartered kept its $100,000 year-end target.