### New Trends in Crypto Market: Macroeconomics Becomes the Dominant Force, Bitcoin is Expected to Continue to Rise 🚀

Hello everyone! Today we are going to talk about what's new in the crypto market. Recently, Geoff Kendrick, an analyst at Standard Chartered Bank, brought us some interesting views. He predicts that Bitcoin and other digital assets will usher in a wave of increases due to the Fed's recent rate cuts. The main driving force behind this rise is not the US presidential election, but favorable macroeconomic conditions.

#### Market Performance After the Fed's Rate Cut

Kendrick pointed out in an email that digital assets have been among the top performers for the first time after the FOMC (Federal Open Market Committee) meeting. Although Polymarket shows Harris's approval rating of 52/47 today, this does not change the positive performance of digital assets. He believes that this is mainly because macroeconomic drivers are beginning to overwhelm election-related uncertainties.

#### Macroeconomics vs. Presidential Election

Kendrick also mentioned that the US presidential election is no longer as influential on Bitcoin prices as it used to be. He said: "While the US election is important, macro drivers are beginning to dominate." This means that investors may pay more attention to economic policies and market conditions rather than political events.

#### The impact of the US Treasury yield curve

Kendrick said that he is monitoring the difference between short-term and long-term US Treasury yields as an indicator of market conditions that are favorable to digital assets. "I look at the US 2s10s curve, and a steeper US yield curve is favorable for digital assets." This suggests that as the yield curve steepens, investors may be more inclined to invest in Bitcoin and other digital assets.

### What do you think?

Overall, Kendrick's views provide us with a new perspective on the future development of the crypto market. While political events are still important, macroeconomic conditions seem to be becoming a more critical factor. So, what do you think of this view? Welcome to share your views and insights in the comment area!

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