CoinTelegraph
Bitcoin reclaimed $66,000 on Tuesday while US spot Bitcoin ETFs booked $226.8 million in net inflows, the first positive session after weeks of heavy outflows. Standard Chartered's Geoffrey Kendrick said the reversal may have already marked the cycle bottom, reiterating his $100,000 year-end target and adding that a $500,000 figure may end up being too conservative.
Why it matters
The flow reversal matters more than the price level. After a multi-week stretch dominated by selling, a single $226.8M net day from the spot ETF complex is a meaningful posture shift: the marginal institutional buyer has re-entered on the bid side. Kendrick's call that the bottom is already in layers a public bank forecast on top of the flow data, and his $100K year-end framing keeps the upside target live at a moment when bearish positioning was crowding.
Market impact
A clean break back above $66K reopens the range that defined the late-summer consolidation. The next resistance sits in the $68K to $70K zone; a sustained push through it would likely accelerate ETF flows further, since allocators tend to chase confirmed breakouts. Watch the daily ETF net-flow tape and front-end funding rates for confirmation that the bid is structural rather than a short-cover squeeze.
Source: [Waiting for Bitcoin to Crash Again? You May Be Too Late — YouTube](https://www.youtube.com/watch?v=rVx7wuYQBbQ)
Frequently asked questions
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How much did US spot Bitcoin ETFs pull in on this session?
US spot Bitcoin ETFs booked $226.8 million in net inflows on Tuesday, the first positive session after several weeks of heavy outflows.
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Why is Standard Chartered's $100K call relevant right now?
Geoffrey Kendrick at Standard Chartered said the recent reversal may have already marked the cycle bottom and reiterated his $100,000 year-end target, while suggesting $500K may prove too conservative.
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Why does the ETF flow reversal matter more than the price move?
After a multi-week stretch of selling, a single $226.8M net day signals the marginal institutional buyer has re-entered on the bid side rather than continuing to distribute.
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What is the next technical resistance for Bitcoin above $66K?
The next resistance zone sits between $68K and $70K, with a sustained push through that range likely to accelerate ETF inflows further.
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What signals would confirm the recovery is structural rather than a squeeze?
A continued run of positive daily ETF net flows and firming front-end funding rates would confirm the bid is structural, rather than a short-cover bounce.
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