Two Wall Street Banks Agree $60K Is Bitcoin’s Floor-One Targets $100K, The Other Warns It’s Stuck

Two Wall Street Banks Mark $60K as <a href="https://minority-mindset.com/btc-usd/">Bitcoin</a>’s Floor Zone

Key Takeaways

Standard Chartered says Bitcoin’s $59K low on June 5 marked the definitive cycle bottom.
Charles Schwab independently flags ~$60K as strong support at the 200-week average.
Standard Chartered holds $100K Bitcoin and $4K Ethereum year-end targets.
An October 2025 peak may have pulled this cycle’s timeline forward.

On June 14th, with Bitcoin trading around $64,000, analysts at two different banks agreed the price was slightly above a key support level. However, they arrived at this conclusion using different methods and with varying degrees of confidence.

Standard Chartered: “Winter Is Over”

According to a recent report from Standard Chartered on June 12th, Bitcoin has likely hit its lowest point in this cycle, falling to around $59,000 on June 5th. Geoffrey Kendrick, the bank’s head of digital asset research, believes this signals the end of the “crypto winter” and the start of a recovery. CoinDesk reports that the $59,000 price is a 53% drop from Bitcoin’s peak of $126,000 in October 2025.

According to Kendrick, the recent market dip wasn’t due to technical issues, but rather two major shifts. First, the excitement around the SpaceX IPO led investors to sell off around $5.72 billion in Bitcoin ETF holdings in mid-May to fund their investments, creating temporary downward pressure. Now that the IPO is established, that selling has stopped. Second, increasing hopes for a peace agreement between the US and Iran have lowered oil prices to around $87 a barrel, which is helping to reduce inflation and stabilize Treasury yields – both of which had been negatively impacting riskier investments. Kendrick still expects Bitcoin to reach $100,000 and Ethereum to reach $4,000 by the end of the year, and believes Ethereum is likely to perform better than Bitcoin as the market recovers.

Standard Chartered hasn’t yet confirmed that $59,000 is a solid support level for Bitcoin, but they are closely monitoring the market. They’re looking for three key things to happen: consistent money flowing *into* US Bitcoin ETFs, companies starting to buy Bitcoin again, and oil prices either staying steady or going down. Until all of these occur, their prediction of $59,000 as a floor remains strong belief rather than a certainty.

Charles Schwab: A Classic Bear Market With a Floor Near $60K

Charles Schwab is taking a more careful approach to assessing the current situation. Jim Ferraioli, their Director of Digital Currency Research, says Bitcoin is in a typical bear market – it’s dropped about 50% from its peak, and investor enthusiasm has faded.

He believes Bitcoin has strong support around $60,000 for two main reasons. First, this level corresponds with a key long-term moving average that has often acted as a floor during past market downturns. Second, it’s slightly above the estimated production cost – about $16,000 per coin – for miners who operate most efficiently. He emphasizes that support levels aren’t perfect and prices can temporarily dip below them, but they indicate an important price point where buying pressure often emerges. However, he doesn’t anticipate a major price increase soon. Instead, he expects Bitcoin to trade within a range of $60,000 to $80,000. He sees $80,000 as resistance because many investors who bought over the last 18 months – and lost around 50% of their money – will likely sell to recover their investment at that price.

Two Banks, One Level, Two Conclusions

As a researcher following this situation, what’s striking to me isn’t necessarily *what* will happen with the asset price, but that two different analytical teams – one focused on macro trends and market flows, the other on fundamental and technical analysis – both see $59,000 to $60,000 as a key level. They agree on this support area, which is significant in itself. However, where they diverge sharply is their outlook from there: Standard Chartered believes we’ll see a bounce back towards $100,000, while Schwab anticipates that $59,000-$60,000 will act as the lower end of a trading range, with resistance around $80,000. The key takeaway for anyone tracking this is to focus on that agreed-upon floor and understand there’s real disagreement about where it goes next.

The Four-Year Cycle: A Reason for Caution and a Door

As an analyst, I’m keeping a longer-term perspective alongside the recent bank earnings calls. Bitcoin has historically followed a roughly four-year cycle linked to its halving events – periods of price increases are usually followed by about a year of declines before the next rally. If this pattern continues, timing is crucial. Considering Bitcoin peaked in October 2025, and we’re only in June 2026 – about eight months past that peak – I’m hesitant to say we’ve hit the bottom yet. Historically, the lowest point in these cycles hasn’t arrived until a full year, or even longer, after the peak, so a cautious approach seems warranted.

However, this established pattern also suggests a possibility: the recent high in October came sooner than in previous cycles, which peaked in November or December. This earlier high could mean the low point of the cycle will also happen sooner, potentially shortening the overall downturn. If the cycle is happening a month or two ahead of schedule, the low of around $59,000 we saw in June might actually be close to the final bottom. While the typical four-year cycle doesn’t guarantee we’ve seen the worst, it doesn’t necessarily mean the worst is still to come either.

Where the Thesis Gets Proven

As an analyst, I’m seeing some strong signals that could confirm a near-term Bitcoin recovery. Most importantly, if we start to see consistent positive inflows into US spot Bitcoin ETFs after the recent selling, that would be a very clear sign of renewed demand. We’re also keeping a close eye on whether corporations begin adding Bitcoin to their balance sheets again – Standard Chartered is particularly focused on this, as it mirrored activity during previous market bottoms. Macroeconomic factors are important too; stable or decreasing oil prices related to the situation with Iran would support our bullish outlook, while escalating tensions could hurt it. Technically speaking, holding above $60,000, a level both we and other banks are watching closely, is crucial for maintaining our positive view. The next few weeks’ data will tell us definitively if that level can hold.

This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.

2026-06-14 10:24