Bitcoin price surged to a two-week high near $67,000 as an Iran ceasefire eased macro fears and Strategy’s $100 million Bitcoin purchase fueled crypto-stock gains.
Bitcoin rebounded more than 11% from its June 5 low near $59,000 to around $66,500 as easing Middle East tensions and continued institutional accumulation from major corporate buyers helped restore confidence despite lingering skepticism about the bull market.
Standard Chartered says crypto's cycle low is likely in, arguing that Bitcoin's drop to roughly $59,000 marked the bottom and that easing IPO-related selling pressure, improving macro conditions, and renewed institutional demand could pave the way toward its $100,000 year-end target.
Bitcoin remains under pressure from ETF outflows, AI-driven capital rotation, and corporate selling, but institutional analysts argue its long-term store-of-value thesis remains intact as large investors continue accumulating while retail sentiment weakens.
Bitcoin price plunged below the Bitcoin Rainbow Chart’s lowest “Basically a Fire Sale!” band for only the second time since the FTX collapse, while the Fear and Greed Index sank to 12.
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.
Bitcoin price has tumbled to its lowest level in months Wednesday night, crashing below $62,000 and wiping out a sharp intraday loss of more than $5,300.
