Bitcoin Dip Under $60,000 ‘Should be Bought Into’: Standard Chartered

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 In a note shared with Following the crypto market’s plunge alongside stocks this week following While Kendrick noted that, “Risk concerns related to the Middle East seem destined to push BTC below 60k before the weekend,” the analyst “There has been a large fresh position in BTC options in the last couple of days,” Meanwhile, on October 2, the market saw net outflows from Bitcoin spot ETFs totaling $91.7 million, with Grayscale’s (GBTC) losing $27.3 million and (ARKB) seeing outflows of $60.2 million. Fidelity’s FBTC, however, managed a net inflow of $21 million, according to Ethereum spot ETFs reported net inflows of $14.4 million, with BlackRock’s (ETHA) receiving $18 million. Alex Kuptsikevich, senior market analyst at FxPro, attributed Bitcoin’s current stagnation to the broader risk-off environment in global markets. He pointed to the “ongoing wave of dollar gains and declines in risk assets” resulting from the Middle Eastern conflict, alongside profit-taking ahead of the U.S. jobs report.“Bitcoin found support on the decline towards the 50-day moving average and the $60,000 area. Over the next two days, swings within the $60-63.6K area could be misleading market noise as