Standard Chartered Bank analyst: BTC's short-term bottom is in the range of $85,000 to $88,700

Standard Chartered Bank global dijital varlık research director Geoff Kendrick attributed the recent market turmoil (including the BTC decline and the pump of long-term US Treasury bonds) to the decrease in the term premium of US Treasury bonds. The term premium is the additional yield required by investors holding long-term bonds rather than rolling over short-term bonds. As BTC is usually seen as a tool for Riskten KorunmaTradFi market instability, the strengthening of confidence in US Treasury bonds may weaken the attractiveness of BTC in the short term, leading to a price decline. Kendrick said, ‘There is no sign of slowing down in MicroStrategy’s purchases, and they are unlikely to sell. However, since the presidential election, the average purchase price of ETF and MSTR has been $88,700, which may become a short-term bottom. BTC may consolidate in the range of $85,000 to $88,700 and then resume its upward trajectory.’