Geoff Kendrick, the head of digital asset research at Standard Chartered, stated that the recent price fluctuations of Bitcoin are consistent with the performance of risk assets such as the "Big Tech Seven" in the US stock market, rather than issues inherent to the cryptocurrency itself. He pointed out that the decline in Bitcoin is mainly influenced by the overall market sentiment, and its future rebound may depend on two major catalysts: the overall recovery of risk assets or positive news about Bitcoin (such as sovereign purchases by the US or other countries). If the Federal Reserve quickly shifts to rate cuts (such as the probability of a rate cut in May rising from 50% to 75%), it may drive a rebound in Bitcoin; but if the downward trend continues, Bitcoin may fall below $76,500 and test the $69,000 support level. Although facing short-term pressure, Kendrick remains optimistic about Bitcoin's long-term prospects, predicting it will reach $200,000 by the end of 2025. He emphasized that the current market volatility increases the likelihood of the Federal Reserve cutting interest rates, further reinforcing his long-term bullish view. At the same time, President Trump's tariff policies and the Federal Reserve's interest rate decisions will continue to affect market sentiment, bringing uncertainty to Bitcoin's performance.