Standard Chartered Bank: BTC may continue to decline, it's not yet a good time to buy the dip

2025-02-26 19:40:15

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ChainCatcher news, according to The Crypto Basic, the price of Bitcoin fell to around $86,000 on Tuesday, marking the lowest level since November last year, down more than 20% from the historical high in January. As market risk aversion increases, the anticipated surge in cryptocurrency due to Trump's presidency has not materialized. Data from JPMorgan shows that cryptocurrency ETFs saw an outflow of $544 million last week, indicating that pessimism is spreading in the market.

Geoff Kendrick, head of digital asset research at Standard Chartered Bank, warned: "Bitcoin may experience more downward trends, with a further correction of 10%. Don't rush to buy the dip. Although Bitcoin has remained above $90,000 supported by optimistic sentiment for cryptocurrencies under the Trump administration, the appeal of cryptocurrencies has been weakened as the president's promises have not been fulfilled and macroeconomic uncertainties rise."

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