Standard Chartered Bank: Bitcoin may continue to decline, not yet at the bottom of the market

According to TheCryptobabic, the price of Bitcoin fell to around $86000 on Tuesday, hitting its lowest level since November last year and dropping more than 20% from its historical high in January. As market risk aversion intensifies, the expected surge in cryptocurrency prices due to Trump's inauguration has not been realized. According to data from JPMorgan, 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 Bank, warned that "Bitcoin may experience more downturns, with a further 10% pullback. Don't rush to buy bottom. Although Bitcoin has remained above $90000 under the optimistic support of the Trump administration for cryptocurrency, its appeal has been weakened as presidential promises fail to be fulfilled and macroeconomic uncertainty rises