Bitcoin May Drop Below $60K This Week On Middle East Tensions, But It’s A Buy As Trump’s Odds Rise: Standard Chartered
Rising tensions in the Middle East may push Bitcoin below $60K before this weekend, presenting a buying opportunity for investors due to Donald Trump’s rising chances of winning the US election, Standard Chartered said. “Risk concerns related to the Middle East seem destined to push bitcoin below $60,000 before the weekend,” said Geoff Kendrick, Standard Chartered’s global head of digital assets research, in a research note. He added that $80,000 call options and the “circularity vis-à-vis Trump probabilities” suggest this dip “should be bought into.” Middle East Conflict Might Boost Bitcoin’s Post-Election Outlook Kendrick noted that Trump’s Polymarket odds of winning the election have risen by 1%, while his political rival and Vice President Kamala Harris has seen her chances drop by an equal amount on the decentralized betting platform. Bettors now put the odds of a Harris victory at 49%, while Trump’s ch...