Geoff Kendrick, global head of digital asset research at Standard Chartered, attributes the recent market turmoil, including the fall in bitcoin and the rise in long-term US Treasuries, to a decline in the term premium on US Treasuries. The term premium is the additional yield required by investors to hold long-term bonds rather than roll over short-term bonds. Since bitcoin is often seen as a hedge against the instability of traditional financial marekts, increased confidence in US Treasuries could reduce bitcoin's attractiveness in the short term, causing its price to fall.
"MicroStrategy buying shows no signs of slowing down and they are unlikely to sell, but since the election, the average purchase price for ETFs and MSTRs is $88,700, which could become a short-term bottom and Bitcoin could consolidate in the $85,000 to $88,700 range before resuming its upward trajectory," said Mr. Kendrick.
Standard Chartered Analyst: BTC's Short-Term Bottom in the $85,000 to $88,700 Range
2024-11-26 20:15:24
Hit banking global digital assets research supervisor geoff kendrickdesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
渣打银行分析师：BTC的短期底部为85,000美元至88,700美元区间Next article：
据美国国会山报：知情人士透露，以色列政府预计将很快宣布与黎巴嫩真主党达成停火协议，停火将于周三上午开始。
