Bitcoin (BTC) faces the risk of falling below its current level of $60,000 in the coming hours due to escalating geopolitical tensions in the Middle East.<\/p>\n
Analysts at British multinational bank Standard Chartered said in a note accessed<\/a> by The Block that the chances of BTC declining further are high; however, investors should consider the fall as an opportunity to increase their digital asset holdings.<\/p>\n Bitcoin already lost<\/a> almost $4,000, falling from $64,000 to just above $60,000, following Iran\u2019s missile strike on Israel on the first day of the month. The cryptocurrency has remained<\/a> between $60,000 and $62,000 since then and was worth $60,500 at the time of writing.<\/p>\n According to the report led by Standard Chartered\u2019s global head of digital assets research, Geoff Kendrick, bitcoin\u2019s eventual plunge could result in higher returns for investors because the U.S. Republican presidential candidate, Donald Trump, currently has a higher chance of winning the upcoming elections.<\/p>\n Due to Trump\u2019s pro-crypto stance, analysts expect BTC to experience a significant rally if he emerges victorious in the elections. Contrarily, the asset is likely to fall if the Democratic candidate Kamala Harris wins.<\/p>\n \u201cA Harris victory would likely trigger an initial price decline, but we would expect investors to buy the dips as the market recognizes that progress on the regulatory front will still be forthcoming,\u201d Kendrick stated.<\/p>\n Data on the decentralized prediction platform Polymarket shows<\/a> that Trump\u2019s chances of winning the election have increased by 1%, while Harris\u2019 have reduced by the same percentage.<\/p>\n \u201cThis creates an interesting circularity for bitcoin. Geopolitical concerns may push prices lower, yet these very concerns seem to increase Trump\u2019s odds, potentially improving bitcoin\u2019s post-election outlook,\u201d the analyst added.<\/p>\n While the effect of tensions in the Middle East continues to play out in the market, bitcoin call options are witnessing a growing demand. Call options are contracts that allow investors to buy assets at agreed prices on or before a particular date.<\/p>\n Over the two days, bitcoin call options open interest for the December 27 expiry at an $80,000 strike price has increased by 1,300 BTC on the leading crypto options exchange Deribit. The rising BTC call options indicate that market participants are betting on upward price movements, and according to Kendrick, this can intensify optimism for the asset.<\/p>\n The post Standard Chartered Highlights Good Buying Bitcoin Opportunities as BTC Falls Toward $60K<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) faces the risk of falling below its current level of $60,000 in the coming hours due to escalating geopolitical tensions in the Middle East. Analysts at British multinational bank Standard Chartered said in a note accessed by The Block that the chances of BTC declining further are high; however, investors should consider the […]<\/p>\n","protected":false},"author":0,"featured_media":11329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11328"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11328"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11329"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BTC to Fall Below $60K<\/h2>\n
BTC Call Options Are Increasing<\/h2>\n