Standard Chartered Bank executive: The decline in the term premium in the U.S. Treasury market is one of the reasons for the BTC price correction

Geoff Kendrick, head of digital asset research at Standard Chartered Bank, said that the decline in the term premium of the US Treasury market is weakening the appeal of Bitcoin as a hedge against traditional financial problems, which may be one of the reasons for the recent price pullback. He pointed out that the decline in the term premium usually indicates that investors have increased confidence in long-term government bonds, which puts pressure on the short-term demand for Bitcoin. In addition, Bitcoin monthly options are about to expire, with about 18,000 Bitcoin open contracts in the $85,000 to $100,000 range, further limiting price volatility. Kendrick reiterated a year-end target price of $125,000 for Bitcoin and expects it to reach $200,000 by the end of 2025. (TheBlock)