The Bank of Canada announced on the 5th that it would cut its benchmark interest rate, the overnight lending rate, by 25 basis points from 5% to 4.75%. This is the first rate cut by the Bank of Canada since the end of March 2020. According to CCTV News, on June 6 local time, the European Central Bank held a monetary policy meeting and decided to cut interest rates by 25 basis points after maintaining high interest rates for 22 consecutive months. The main refinancing rate fell to 4.25%, the marginal lending rate fell to 4.50%, and the deposit mechanism rate fell to 3.75%. Traders increasingly expect the Federal Reserve to cut interest rates as early as November. Earlier data showed that U.S. inflation has slowed and the job market has weakened. The report also said that some U.S. Treasury yields recorded their largest two-day declines this year.

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Geoffrey Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, told The Block on Thursday:

As the US presidential election approaches, I expect Bitcoin to rise to $100,000, and if Trump wins, Bitcoin will rise to $150,000 by the end of the year.

Geoffrey Kendrick added: “The Biden administration recently showed pragmatism in approving an Ethereum spot ETF, but Biden subsequently vetoed a resolution to repeal SAB 121 regulations. Therefore, Trump is still friendlier (towards the cryptocurrency industry) than Biden.”

The Standard Chartered analyst also mentioned the upcoming non-farm payrolls data, noting that if the data is "friendly," he expects Bitcoin to set a new high over the weekend, paving the way for a move above $80,000 by the end of June.

Geoffrey Kendrick reiterated that he still sticks with his price prediction that Bitcoin will rise to $150,000 by the end of the year and $200,000 by the end of 2025.

Macroeconomics is positive, the general trend is bullish, and Bitcoin will hit 80,000 in June just around the corner! Predict the next explosive sector and currency?

1: June is the month of AI, with Apple conference, Nvidia AI Summit, etc.

RNDR LPT WLD TAO ARKM in the Ai sector of the cryptocurrency circle are all popular projects!

2: Ethereum ETF is still hot and has started to be hyped recently. It is expected to be approved at the end of June and will be traded in early July! Ethereum Ecosystem: Pendle SSV Ldo Ethfi metis uni are all strong projects in the Ethereum ecosystem

3: The European Cup in June is a global sports feast. The currency circle is also a category, and both sports coins and team player coins have opportunities. Sports coin Chz popular currency. French team: FRA German team: GER British team ENG strong team MeMe. European Cup main MeMe: YURO AIBART high risk on the chain, high returns!

4. Inscription sector: Very strong recently, the foreign language sector ORDI is very popular and has a high level of attention. Cionbase has ORDI futures, and the spot is not listed, which is also a good expectation! Sats Rats have certain performance and can be focused on.

Finally, there are still many things that I haven’t written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article. Welcome to follow me

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