Bitcoin (BTC) warning from Standard Chartered! “90 thousand dollars is very critical!”

Great corporate bull MicroStrategy (Strategy) under the leadership Bitcoin (BTC) While the adoption is increasing, an increasing number of companies started to hold Bitcoin in their balance sheets in recent months.

This situation reveals the increasing BTC demand, Standard Chartered He warned against this situation.

Standard Chartered warned that price volatility would increase if the market conditions are worsening for Bitcoin and crypto currencies in today’s note.

Standard Chartered Digital Asset Analyst Geoff KendrickFor companies that hold Bitcoin, he said that it was a potential liquidation level of a pain level of 22 %of the average purchasing price ”.

The bank listed 61 companies that hold Bitcoin Treasury. Among them, the bank stated that there are also bitcoin holders for the diversification of balance sheets, but they have a total of 673,897 BTCs or 3.2 %of the total Bitcoin supply.

Kendrick pointed out that half of these companies bought BTCs at an average price of over $ 90,000, and said that if Bitcoin falls below $ 90,000, it is potentially at risk of liquidation.

Analyst, who showed Core Scientific, which collapsed in 2022, said the following.

“These companies may become compulsory sellers if the Bitcoin price falls below 22 %of the average purchase prices.

At this point, 90 thousand dollars for these companies continue to be a critical level. Because the price of Bitcoin will only return to below $ 90,000 in order to damage half of Bitcoin companies. ”

Microstrategy, leading the corporate Bitcoin strategy, holds the majority of BTC reserves (86%) and has a much lower average purchase price of about $ 70,000. However, Kendrick stated that new corporate participants are at risk. “Bitcoin companies have increased in the last two months, and the average purchasing prices are higher than MSTR. This means that the risks are more.” he said.

Standard Chartered Analyst Kendrick said how painful they could withstand the real issue before they had to sell Bitcoins in the hands of companies.

*It is not an investment advice.