According to ChainCatcher, Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, published a report saying that Bitcoin is showing upward momentum and may approach its historical high of $73,800 before the US presidential election.
Kendrick noted that multiple factors are driving this potential price increase, including a steepening U.S. Treasury yield curve, a resurgence of interest in the spot Bitcoin ETF market, and an increased probability of Donald Trump winning the upcoming U.S. presidential election.
According to the Polymarket forecasting platform, Trump's chances of winning have risen to 56.3%. If Trump wins, the probability that the Republicans will control both the Senate and the House of Representatives is 70%, which could create favorable conditions for risky assets including Bitcoin.
