📉Geopolitical risks could drive bitcoin below $60,000, creating buying opportunity, Standard Chartered analyst says.

Standard Chartered's global head of digital assets research Geoff Kendrick said that while risks in the Middle East may drive bitcoin lower, investors should consider it a buying opportunity due to Donald Trump's rising chances in the U.S. presidential election race.

"Risk concerns related to the Middle East seem destined to push bitcoin below $60,000 before the weekend, but, positions like the $80,000 call options highlighted here and the circularity vis-à-vis Trump probabilities suggests the dip should be bought into," Kendrick said in a note.

He observed that the odds in the U.S. presidential race between Donald Trump and Kamala Harris have shifted slightly this week. According to Polymarket, Trump's chances have increased by about 1%, while Harris's have dropped by the same amount. As a result, Harris's likelihood of winning the November election now stands at 49%, whereas Trump's…