Geoffrey Kendrick, head of global digital asset research at Standard Chartered, said in a recent note that bitcoin has been down for five consecutive weekends, but that trend is expected to shift this weekend. A slight rally this weekend could trigger ETF inflows on Monday, pushing the price back to $100,000 and then to $102,500.
The last few weekends (5pm New York time on Friday to the same time on Sunday) have been particularly tough for Bitcoin, with negative news weighing on it. A key event was DeepSeek news on the weekend of January 25-26, followed by news on the Canadian and Mexican tariffs on the following weekend, February 1-2.
"This is not'normal 'and this weekend [February 15-16]" will be different "as bearish events have already occurred and US 10-year Treasury yields have fallen below 4.5 per cent this week, which is a positive sign for risk assets such as bitcoin. Lower yields tend to ease pressure on speculative investments, making a rally more likely.
Standard Chartered: BTC Expected to Rally This Weekend
2025-02-16 00:07:43
Hit banking global digital asset research supervisor analyst geoffreydesk3cryptocurrencydesktopCrypto News
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