Standard Chartered Bank: Bitcoin may continue to decline, and it is not time to buy at the bottom
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According to TheCryptobasic, the price of Bitcoin fell to around $86,000 on Tuesday, the lowest level since November last year, down more than 20% from its all-time high in January. As market risk aversion heats up, the expected surge in cryptocurrencies due to Trump's takeover failed to achieve. JPMorgan data shows that cryptocurrency ETFs had a $544 million outflow last week, indicating that market pessimism is spreading. Geoff Kendrick, head of digital assets research at Standard Chartered Bank, warned: "Bitcoin may experience more downward trends, further pullback of 10%, and don't rush to buy the bottom. Although Bitcoin has remained under the optimism of the Trump administration's support for cryptocurrencies. More than $90,000, but the attractiveness of cryptocurrencies is weakened as the president’s promise fails to deliver on and macroeconomic uncertainty rises. ”