Editor's PiCK
Standard Chartered "Concerns over Fed's independence could drive Bitcoin to all-time high"
Summary
- Standard Chartered reported that if concerns over the Fed's independence persist, Bitcoin could reach an all-time high.
- It stated that the decline in trust in U.S. Treasury bonds and the sharp rise in yield premiums are creating a favorable environment for Bitcoin prices.
- Standard Chartered has previously predicted that Bitcoin will reach $200,000 by the end of 2025.
There is an analysis that if concerns about the independence of the Federal Reserve (Fed) continue, Bitcoin (BTC) could reach an all-time high.
On the 22nd (local time), according to Walter Bloomberg, Standard Chartered stated in a report that "Bitcoin is a means to hedge against the risks of the existing financial system."
It continued, "After U.S. President Donald Trump suggested the dismissal of Fed Chair Jerome Powell, the trust in U.S. Treasury bonds declined, and Bitcoin is rising," adding, "The sharp rise in the yield premium of short-term Treasury bonds compared to long-term Treasury bonds is also favorable for Bitcoin."
As of 12:05 PM, Bitcoin is trading at $91,222 on the Binance USDT market, up 3.42% from 24 hours ago.
Meanwhile, Standard Chartered has previously predicted that Bitcoin will reach $200,000 by the end of 2025.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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