Standard Chartered says BTC sell-off is near bottom, predicts $100K by end of 2026

Standard Chartered (SC) has assessed that the recent sharp decline in the Bitcoin market is approaching a bottom and that the peak of the sell-off has passed. According to The Block, Geoffrey Kendrick, head of digital assets research at SC, stated that spot ETF-based BTC holdings remain structurally strong and a large-scale repurchase from Strategy is expected. He added that looking back from the end of 2026—when Bitcoin reaches $100,000 and Ethereum hits $4,000—the current period will be seen as the buying opportunity everyone had hoped for. Kendrick identified Strategy's sale of 32 BTC as the direct cause of this week's decline. He cited a precedent from Dec. 22, 2022, when Strategy sold 704 BTC for tax purposes and then repurchased 810 BTC just two days later. Based on this, he predicted that a more aggressive repurchase could occur this time, ranging from 320 BTC to 3,200 BTC.