Standard Chartered Bank Analyst: The Short-Term Bottom for BTC is Between $85,000 and $88,700

【Standard Chartered Bank Analyst: The Short-Term Bottom for BTC is Between $85,000 and $88,700】 According to Golden Finance, Geoff Kendrick, the global head of digital asset research at Standard Chartered Bank, attributes the recent market turmoil (including the decline in Bitcoin and the rise in U.S. long-term treasury bonds) to a decrease in the term premium on U.S. treasuries. The term premium is the additional yield that investors require for holding long-term bonds instead of rolling over short-term bonds. Since Bitcoin is often seen as a hedge against instability in traditional financial markets, increased confidence in U.S. treasuries may weaken Bitcoin's appeal in the short term, leading to a price decline. Kendrick stated, “MicroStrategy shows no signs of slowing down their purchases, and they are also unlikely to sell, but since the election, the average purchase price for ETFs and MSTR has been $88,700, which may serve as the short-term bottom, and Bitcoin may consolidate in the range of $85,000 to $88,700 before resuming its upward trajectory.”