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Cryptopress · Jun 13, 2026

Bitcoin Hits Cycle Low at $59,000 as Standard Chartered Declares Crypto Winter Over

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Cryptopress · Cryptopress

Bitcoin reached a cycle low of approximately $59,375 before recovering to trade near $63,500, a 53% drawdown from its October 2025 all-time high of $126,000. Standard Chartered analyst Geoffrey Kendrick declared the “crypto winter” over, citing the SpaceX IPO and potential U.S.-Iran de-escalation as key catalysts. SpaceX completed its record $75 billion IPO at $135 per share, debuting with strong gains and indirect Bitcoin exposure via its 18,712 BTC holdings. Spot Bitcoin ETF outflows, partly tied to IPO liquidity demands, showed signs of easing as macro pressures from oil prices potential…

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