Standard Chartered Predicts Bitcoin Bottom 'Almost In' After Significant Market Correction

Bitcoin has experienced a notable downturn, shedding 14% of its value in just seven days and reaching levels not seen since February. This significant correction saw the digital asset touch a session low near $61,463, a stark contrast to its all-time high of $126,277 set in October 2025, representing a 51% decline from that peak. Several factors contributed to this market pressure, including sustained institutional outflows, widespread leverage liquidations, broader geopolitical tensions, and a surprising sale by Strategy.

Adding to the market's unease, U.S. spot Bitcoin Exchange-Traded Funds (ETFs) recorded an unprecedented 13 consecutive days of net outflows, marking the longest such streak since their launch in early 2024. During this period, total withdrawals amounted to approximately $3.45 billion. May stood out as the worst month of 2026 for these ETFs, with cumulative outflows reaching $2.30 billion. This trend highlights a shift in investor sentiment, as detailed in our previous coverage of major crypto ETFs experiencing significant outflows.

Strategy's Unexpected Bitcoin Sale

A key catalyst for the market's recent instability was the disclosure by Strategy of its first net reduction in Bitcoin holdings in years. Between May 26 and May 31, the firm sold 32 Bitcoin, generating approximately $2.5 million at an average price of $77,135 per coin. This move, which funded dividend obligations on Strategy's STRC preferred shares (carrying an 11.5% annual variable dividend), surprised many given co-founder Michael Saylor's long-standing