TechFlow news, according to The Block, Standard Chartered analyst Geoff Kendrick said that due to concerns over geopolitical risks, Bitcoin might fall below $60,000 before the weekend. However, he believes this would create an opportunity for accumulation on dips.
In addition, Geoff Kendrick emphasized a significant increase in Bitcoin call option positions, noting rising open interest in options with an $80,000 strike price expiring on December 27.
Geoff Kendrick also pointed out that Bitcoin has not served as a safe haven against geopolitical tensions: "Gold is a geopolitical hedge. Bitcoin is a hedge against traditional financial issues, such as bank failures or de-dollarization/U.S. Treasury sustainability concerns."
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