PANews reported on June 4th, citing The Block, that Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, stated that Bitcoin has "almost bottomed out" after its recent sharp decline, with the current $63,000 range considered a "buying zone." He pointed out that since February, holdings in US spot Bitcoin ETFs have remained largely flat, without the anticipated concentrated redemptions, indicating more "structurally stable" funding. Kendrick predicts that after Strategy's recent sale of 32 BTC, which triggered selling pressure, it may follow historical patterns and conduct a buyback of 10 to 100 times the initial investment, potentially confirming a temporary low. He also cautioned that Bitcoin still faces downside risk of falling below $60,000, but believes that buying in batches is better than trying to precisely time the bottom. The bank maintains its year-end targets of $100,000 for Bitcoin and $4,000 for Ethereum.