Will Canny is CoinDesk's finance reporter.
The bank said bitcoin is now trading below the average spot ETF purchase price of $58K.breakdown through the $60K technical level opens the way for another move lower to the $50K-$52K range, investment bank Standard Chartered said in emailed comments on Wednesday.
There have now been five consecutive days of outflows from U.S. spot bitcoin exchange-traded funds , the bank noted, and BTC is currently trading below the average ETF purchase price of about $58K.
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