Geoff Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, predicts that Bitcoin and digital assets will continue to be boosted after the Federal Reserve’s recent interest rate cut, which is more driven by favorable overall economic conditions than the U.S. presidential election. promote. (Preliminary summary: What impact will the Fed's 2-digit interest rate cut have on the crypto market? Will Bitcoin usher in a new round of surge?) (Background supplement: Fed decision-making package: Reasons for Ball's sharp 2-digit interest rate cut, interest rate dot plot, Turning to focus on employment) After the U.S. Federal Reserve (Fed) decided to cut interest rates by 2 points (50 basis points) to 4.75% to 5% in the early morning of yesterday (19th), Bitcoin continued to advance rapidly, once exceeding $64,000 at noon, and has been A strong gain of nearly 8%. Source: Trading View Standard Chartered Bank: Bitcoin and cryptocurrencies will continue to rise after the Federal Reserve cuts interest rates. Will the Federal Reserve start an interest rate cut cycle and become a catalyst for the subsequent rise of Bitcoin and the broader cryptocurrency market? According to The Block, Geoff Kendrick, head of foreign exchange and digital asset research at Standard Chartered, predicts that Bitcoin and digital assets will continue to be boosted after the Federal Reserve’s recent interest rate cut, which is more due to favorable overall economic conditions. , rather than the promotion of the US presidential election. Regardless of the outcome of the upcoming U.S. presidential election in November, overall economic factors will drive digital asset prices higher. Kendrick highlighted that digital assets are leading the way in terms of performance for the first time in a while following Thursday's rate cut by the Federal Open Market Committee (FOMC). He also asserted that the impact of the U.S. presidential election on Bitcoin prices is not as great as in the past. "While the U.S. presidential election is important, macro drivers are beginning to dominate." He also added that he is monitoring short-term and long-term U.S. government bond yields. The spread between interest rates, "I am looking at the U.S. 2s10s curve. The steep U.S. yield curve is good for digital assets." Since July 2022, there has been a 793-day gap between the 10-year and 2-year U.S. bond yields. The longest record of "inversion" in history, the interest rate spread began to turn positive at the end of August, and the yield rate was officially lifted from the inversion in early September. Extended reading: The longest U.S. bond yield inversion in history has ended. Can we escape the fate of economic recession this time? Source: Finance M Square Bitcoin spot ETF inflows will rebound in October Kendrick also said that you can pay attention to the inflow of Bitcoin spot ETF funds in October, which may become a force supporting the price of Bitcoin. He noted earlier this month that Bitcoin spot ETF volumes will see a seasonal rebound in October. However, he pointed out that these forecasts depend on continued "positive overall economic factors" rather than political outcomes. And reiterated his previous prediction that "no matter what the outcome of the November election is, Bitcoin will hit a new all-time high again at the end of the year": If Trump wins the election, the potential price target of Bitcoin will reach $125,000; if Harris wins , Bitcoin’s price target will be $75,000. Related reports Fed dropped 2 codes》Bitcoin broke through 62,000, Ethereum soared to US$2,400, but US stocks closed black after Ball's words Standard Chartered Bank: Bitcoin will reach a new high by the end of the year, whoever is elected by Kawakawa will not hinder the rise of BTC in the United States How to judge an economic recession? Please accept these 15 key indicators. "Bitcoin soared above $64,000, Standard Chartered Bank: Fed's interest rate cut will trigger a new round of rise in the crypto market." This article was first published in "Dong District BlockTempo" "Dong District Trend-The Most Influential Blockchain News Media".