Standard Chartered Warns of Bitcoin Market Low Amid ETF Outflows and Key Triggers

Standard Chartered's digital assets research head, Geoff Kendrick, has outlined three potential scenarios that could lead to a new market low for Bitcoin. The bank's analysis comes as the cryptocurrency trades near its lowest level since February and ETF outflows reach historically severe levels.

The first scenario involves continued acceleration of ETF outflows, which have already exceeded $4.21 billion over the past three weeks. If this trend continues, it could remove the institutional demand layer that has been supporting Bitcoin's price.

Kendrick also highlighted the potential impact of a hawkish Federal Reserve stance at its upcoming June and July meetings. A failure to signal rate cuts could remove a key tailwind that has been priced into the market.

Finally, Kendrick noted that a decline in Bitcoin dominance below 52-54% could be a sign of broad-based crypto selling rather than Bitcoin-specific rotation.