Standard Chartered on Bitcoin, with the crypto below its three-month low under $90,000
Standard Chartered predicts further declines
- Despite holding up relatively well, bitcoin is being affected by a broader crypto market selloff, partly fueled by Solana’s meme coin activity.
- Analysts at Stan Chart Kendrick anticipate a near-term drop of around 10%, bringing bitcoin into the low $80,000s
- Although a decline in U.S. Treasury yields could eventually support bitcoin’s recovery, warns that it’s not the right time to buy, especially with bitcoin ETFs potentially facing larger outflows.
This article was written by Eamonn Sheridan at www.forexlive.com.
