Standard Chartered: Bitcoin will continue its decline, not to bottom fishing time
2025-02-26 11:42:20
On February 26th, according to TheCryptobasic, the price of bitcoin fell to around $86,000 on Tuesday, hitting its lowest level since November last year and falling more than 20% from its all-time high in January. As market risk aversion heats up, the cryptocurrency rally previously expected due to Trump's presidency has failed to materialize. Data from JPMorgan shows that the outflow of funds from cryptocurrency ETFs reached $544 million last week, indicating that market pessimism is spreading. Geoff Kendrick, head of digital asset research at Standard Chartered, warned: "Bitcoin may see more downtrends, with a further 10% correction, don't rush to bottom fishing. While bitcoin has held above $90,000 on the back of the Trump administration's optimism in favor of cryptocurrencies, the appeal of cryptocurrencies has diminished as the president's promises have failed to materialize and macroeconomic uncertainty has risen. "
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