In a memo published on Wednesday, analysts at British investment bank Standard Chartered clarified that they expect further declines in the price of Bitcoin, with the cryptocurrency dropping to its lowest level in three months, trading below $90,000. Standard Chartered analysts noted that despite the anticipated declines in Bitcoin's price, it is still too early to buy. The key points mentioned in the British bank's memo regarding their forecasts for Bitcoin are as follows: Although it has held up relatively well so far, Bitcoin is affected by the widespread sell-off currently occurring in the cryptocurrency market, partly due to the activity of Solana in the cryptocurrency sector. Analysts at Standard Chartered expect a soon decline of about 10%, which could bring Bitcoin down to $80,000 or lower. Although the decline in U.S. Treasury yields might ultimately support a recovery for Bitcoin, Standard Chartered warns that now is not the right time to buy, especially with Bitcoin exchange-traded funds facing greater outflows.
