Bitcoin slipped to just over $60,000 Thursday morning, following a second day of outflows from U.S. spot Bitcoin ETFs.
At time of publication, Bitcoin’s price has climbed back to around $61,000, trading flat on the day and down 4.5% on the week, per data from CoinGecko.
In a note shared with Decrypt, Standard Chartered argued that while Bitcoin does not represent a safe-haven asset amid current geopolitical tensions, a dip under $60,000 “should be bought into.”
Following the crypto market’s plunge alongside stocks this week following Iran’s offensive against Israel, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, argued that Bitcoin should not be viewed as a hedge again
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Author: Murtuza Merchant
