Standard Chartered Bank Warns BTC May Dip to $50K Before Bouncing Back, Lowers Year-End Target to $100K

June 6, per HTX market data, Bitcoin saw a short-term rebound, breaking through the $61,000 mark, and is now trading at $60,893, with a 3.85% drop over the last 24 hours.

June 6: U.S. stocks closed lower on Friday, with the Dow Jones Industrial Average posting a 1.35% preliminary decline, the S&P 500 slipping 2.65% (ending the index’s nine-week winning streak), and the Nasdaq Composite falling 4.18%. Notably, the S&P 500 notched its largest single-day drop since October 2025, while the Nasdaq saw its biggest daily decline since April 2025. Semiconductor stocks led the broader market downturn. The Philadelphia Semiconductor Index (SOX) tumbled 10% at the close—its sharpest one-day fall since April 2025. Key names in the sector also posted steep losses: Nvidia (NVDA.O) slid more than 6%, Taiwan Semiconductor Manufacturing Co. (TSM.N) dropped 6.68%, Broadcom (AVGO.O) declined nearly 8%, and Intel (INTC.O) plunged over 11%.

June 6: BitDeer Mining Pool (B.TOP) founder Jiang Zhuo'er noted in a post that Bitcoin has failed to effectively break below its $60,000 key support level. The narrowing price gap between major crypto exchanges Coinbase and Binance signals that selling pressure from U.S. institutional investors through ETFs and other U.S. equities channels is easing, hinting at a potential rebound in the cryptocurrency market over the weekend. Yesterday, Jiang announced he had "bought the dip"—repurchasing his entire Ethereum (ETH) holdings at $1,645. He plans to sell all his ETH positions once the digital asset rebounds within 1 to 3 days, he added.

June 6th. Tonight is bound to be a sleepless night for stock and crypto investors. Driven by better-than-expected U.S. employment data, the U.S. stock market opened lower and plunged sharply immediately. As of press time, the downward trend shows no signs of abating, with the Nasdaq down 3.00%. Several previously hyped AI stocks have seen significant pullbacks. The crypto market is even bloodier. As anticipated, the familiar scenario of liquidations and position rebalancing has unfolded. But tonight, multiple whales are riding along with this: One whale, who went long with 104,772.57 WETH on-chain, has suffered partial liquidation. Notably, this is the same whale that bought the dip during El Salvador's February sell-off. Yet times have changed. As this whale helplessly watched their position get liquidated tonight, El Salvador is already on the shore, lamenting the stunning speed of the market slump. Meanwhile, during the on-chain whale liquidation frenzy, several high-profile tr

June 6 — Renowned crypto trader Killa (@KillaXBT) stated that after Bitcoin fell below $60,000 today, a large buy wall appeared on Binance’s BTC market, leading him to note that the so-called “plunge protection team” is making a comeback. Killa also pointed out that in the past, when similar buy walls have emerged, Bitcoin has tended to follow a pattern of short-term suppression followed by a rebound.

June 6: Crypto KOL Ansem (@blknoiz06) advised retail traders to avoid "catching falling knives" during a market crash in a recent post. Unlike large cash buyers who capitalize on forced sell-offs to accumulate assets, retail investors trying to buy into plunging markets face extremely high risk—they’re effectively standing in front of a steamroller. He recommended retail traders wait patiently until panic selling subsides, the market establishes a clear bottom, and higher lows emerge before entering any positions.