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Bitcoin Could Drop Further to as Low as $50K, Standard Chartered Says
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Solab Bot
May 04, 2024
Bitcoin Could Drop Further to as Low as $50K, Standard Chartered Says
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Standard Chartered predicts Bitcoin could drop to $50K-$52K as it trades below the average spot ETF purchase price of $58K, potentially triggering liquidations. The decline is influenced by both crypto-specific factors and broader macroeconomic challenges, with recent outflows from U.S. spot bitcoin ETFs exacerbating the situation. The bank suggests buying opportunities may arise if Bitcoin hits the target range or if upcoming U.S. CPI data proves favorable.
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