BlockBeats news, on September 20, Standard Chartered Bank analyst Geoff Kendrick predicted that the Federal Reserve’s decision to cut interest rates will promote the continued rise of Bitcoin and other digital assets. This trend was primarily driven by favorable macroeconomic conditions rather than the outcome of the U.S. presidential election.

Kendrick noted in an email: “Digital assets performed prominently after the FOMC meeting, and although Polymarket data showed Harris’ approval rating at 52/47, the impact of macroeconomic factors was more significant.”

He further explained that the impact of the U.S. presidential election on Bitcoin prices is not as important as it used to be. “Macro drivers are starting to take over,” said Kendrick, who is monitoring changes in the U.S. Treasury yield curve, particularly the difference between 2-year and 10-year Treasury yields, which is seen as positive for digital assets. Indicators of market conditions.