According to The Block, Standard Chartered Bank analyst Geoff Kendrick said that Bitcoin may fall below $60,000 before the weekend due to geopolitical risk concerns. But he believes this will provide an opportunity to accumulate dips.

In addition, Geoff Kendrick also highlighted a significant increase in Bitcoin call options positions, noting that there has been an increase in open interest for options with an $80,000 strike price expiring on December 27.

Geoff Kendrick also pointed out that Bitcoin has not become a safe haven against geopolitical tensions, "Gold is a geopolitical hedge. Bitcoin is a hedge against traditional financial problems (such as bank failures or de-dollarization/US Treasury sustainability issues). "