Standard Chartered's head of digital asset research, Geoffrey Kendrick, has warned that Bitcoin could fall further to between $69,000 and $76,500 due to ETF outflows and hedge funds shorting the cryptocurrency. Kendrick expressed concerns about the recent weakness in the market and the lack of breaks for the digital asset class. He pointed to significant ETF activity and a growing disconnect between ETF positions and hedge fund shorts as indicators of further declines. Kendrick cautioned against buying the dip and expressed skepticism about a weekend rally in risk assets. He compared the current situation to a period in August 2024 when panic selling caused Bitcoin to drop below $50,000.



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