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】Golden Finance reports that Geoff Kendrick, head of global digital asset research at Standard Chartered Bank, attributes the recent market turmoil (including the drop in Bitcoin and the rise in US long-term bonds) to the decline in the term premium of US government bonds. 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, the increased confidence in US government bonds 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 for ETF and MSTR has been $88,700, which may become the short-term bottom, and Bitcoin may consolidate in the range of $85,000 to $88,700 before resuming its upward trajectory."