Geoff Kendrick, Global Director of Research of Standard Chartered Bank, attributes the recent market volatility (including the drop in BTC and the increase in long-term US government bonds) to the decrease in the term premium of US government bonds. The term premium is the additional yield that investors require for holding long-term bonds rather than rolling over short-term bonds. As BTC is often seen as a hedge tool for the instability of the TradFi market, the increased confidence in US government bonds may weaken the attractiveness of BTC in the short term, leading to a price drop. Kendrick said, ‘MicroStrategy’s purchases show no signs of slowing down, and they are unlikely to sell. However, since the election, the average purchase price of ETF and MSTR has been $88,700, which could be a short-term bottom. BTC may consolidate in the range of $85,000 to $88,700 and then resume its upward trajectory.’
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Analista do Standard Chartered Bank: o fundo de curto prazo do BTC está na faixa de US $ 85.000 a US $ 88.700
Geoff Kendrick, Global Director of Research of Standard Chartered Bank, attributes the recent market volatility (including the drop in BTC and the increase in long-term US government bonds) to the decrease in the term premium of US government bonds. The term premium is the additional yield that investors require for holding long-term bonds rather than rolling over short-term bonds. As BTC is often seen as a hedge tool for the instability of the TradFi market, the increased confidence in US government bonds may weaken the attractiveness of BTC in the short term, leading to a price drop. Kendrick said, ‘MicroStrategy’s purchases show no signs of slowing down, and they are unlikely to sell. However, since the election, the average purchase price of ETF and MSTR has been $88,700, which could be a short-term bottom. BTC may consolidate in the range of $85,000 to $88,700 and then resume its upward trajectory.’