Standard Chartered Just Issued A Bitcoin Warning — And The 3 Triggers Are Already In Motion
Bitcoin is trading near $62,562, its weakest level since February, while US spot Bitcoin ETFs have seen heavy outflows: $1.42 billion in the week ending May 29 and more than $4.21 billion over three weeks. Bitcoin is also near the lower edge of a long-term Power Law valuation band, suggesting it is cheap versus its historical trend. Three conditions could push Bitcoin to a new low: continued ETF outflows, a hawkish surprise from the Fed’s June or July meetings, and a drop in Bitcoin dominance below the 52%–54% range, which would imply broader crypto selling. Despite the warning, Standard Chartered still sees the current area as a possible buying zone and keeps a $100,000 year-end target for Bitcoin. The price is also near its 200-week moving average, a level that has often marked major bear-market bottoms.
