Standard Chartered Bank analyst: U.S. Treasury yield curve and derivative rates are bullish signals for Bitcoin

Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said that the current economic conditions in the United States are conducive to driving up the price of Bitcoin. After the Federal Reserve cut interest rates last week, the U.S. Treasury yield curve steepened, with the yield spread between 2-year and 10-year Treasury bonds at about 21 basis points, indicating that the market is optimistic about future economic growth. At the same time, bullish sentiment in the Bitcoin derivatives market has increased, and the opening volume of $100,000 Bitcoin options expiring on December 27 has increased significantly. In addition, U.S. Vice President Kamala Harris' recent remarks in support of encryption technology are also seen as market optimism. It is reported that from a timing perspective, the most likely new factor is Vice President Harris' comments on Sunday, September 22, when she first announced that she would encourage cryptocurrency businesses. (TheBlock)