Golden Finance reported that Standard Chartered Bank said that as the price of Bitcoin has fallen below the $60,000 mark and is currently hovering around $57,000, it may fall further to around $50,000. Geoffrey Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, said that the price of Bitcoin has appropriately broken through $60,000 and has now reopened the path to the $5-52,000 range. The driving factors appear to be a combination of cryptocurrency-specific and broader macro factors. With funds continuously flowing out of the U.S. spot Bitcoin ETF, Kendrick said that the average purchase price of the ETF is currently below $58,000, and there is a risk of liquidation. More than half of the spot ETF positions are underwater, so the liquidation risk of some of these positions must also be considered.