Standard Chartered says Bitcoin (BTC) price could fall as low as $50,000.

In bank notes headline Around the launch of the Hong Kong spot ETF, it underperformed because attention was focused on its $11 million revenue “rather than the net asset position of the new ETF, which was quite good.”

Risky assets such as cryptocurrencies that grow based on liquidity are also facing increasing macro headwinds, the bank said. The report noted that broad-based liquidity measures in the United States have deteriorated sharply since mid-April.

The bank recommended buying if the Bitcoin price reaches the range of $50,000 to $52,000 or if the US CPI, an inflation indicator, is ‘favorable’.

Read more: Bitcoin ETF Slowdown Is a Short-Term Stop, Not the Start of a Negative Trend: Bernstein