Standard Chartered declares "the crypto winter is over" with Bitcoin cycle lows possibly at $59,000, Nakamoto Inc. sells 600 BTC to repay $45 million and buy back $25 million in stock

According to BBX data, last week institutional research qualitatively shifted historically, with Bitcoin reserve companies accelerating deleveraging. The core dynamics are as follows:

• Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered PLC (LSE: $STAN), released a research report on June 12, officially declaring that "the crypto winter is likely over." He believes that the $59,000 level for Bitcoin has formed the low point of this bear market cycle, marking a significant turning point in market sentiment. Kendrick stated that a large amount of IPO allocation funds will flow back into risk assets after the SpaceX IPO, and the funding flow for Bitcoin spot ETFs is expected to achieve a structural reversal after this adjustment, combined with the continuous expansion of corporate reserve demand, supporting his view with three factors. This is the strongest "bear end" qualitative statement from institutional research so far in 2026— the last similar clear statement came from the same team at Standard Chartered in December 2023, after which Bitcoin confirmed a breakthrough of historical highs in 2024.

• Nakamoto Inc. (NASDAQ: $NAKA) (Nashville, a Bitcoin operating company, also operating Bitcoin Magazine) disclosed a series of balance sheet optimization measures through an official press release on BusinessWire on June 11: selling approximately 600 BTC and Bitcoin-related derivatives, netting about $48 million, to repay a $45 million loan to Kraken (Payward Interactive); the remaining loan balance is $165 million USDT (down from the original $210 million), restructured under new terms: $60 million USDT maturing on December 4, 2026, and $105 million USDT extended to June 30, 2027; the new interest rate is reduced to 7.75% (previously 8%), requiring the maintenance of 2,000 BTC as collateral in a Bitwise Asset Management custodial account, saving approximately $4 million in annual financing costs; the board also approved a $25 million stock repurchase plan (as of December 31, 2026). After the transaction, the company holds approximately 4,467 BTC (approximately $284 million, estimated at recent prices); the company previously completed a 1-for-40 reverse stock split at the end of May and received confirmation from Nasdaq on June 9 that it has restored compliance with the minimum $1 share price requirement; after the news was announced, $NAKA briefly rose about 20% during trading.