Odaily Planet Daily News - Geoff Kendrick, 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 of U.S. Treasuries. The term premium is the extra 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, the increased confidence in U.S. Treasuries may temporarily weaken Bitcoin's appeal, leading to a price drop. Kendrick stated, 'MicroStrategy's purchases show no signs of slowing down, and they are unlikely to sell, but since the election, the average purchase price of ETFs and MSTR has been $88,700, which could become a short-term bottom. Bitcoin may consolidate in the range of $85,000 to $88,700 before resuming an upward trajectory.'

#BTC #ETF