Bitcoin Could Surge After Interest Rate Cut As Macro Drivers Take Over: Standard Chartered
Portfolio Pulse from Murtuza Merchant
Standard Chartered's Geoff Kendrick predicts Bitcoin and digital assets will grow following a U.S. interest rate cut. Macroeconomic factors, like the U.S. Treasury yield curve, are now key drivers, overshadowing political events. Bitcoin could reach new highs by 2024, with potential ETF inflows boosting the market.
September 19, 2024 | 6:19 pm
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Bitcoin is expected to benefit from the U.S. Federal Reserve's interest rate cut, with macroeconomic factors like the U.S. Treasury yield curve playing a significant role. Potential ETF inflows could further boost Bitcoin's price.
The U.S. Federal Reserve's interest rate cut is a positive macroeconomic factor for Bitcoin, as it typically leads to increased liquidity and investment in riskier assets like digital currencies. The steepening U.S. Treasury yield curve further supports this trend. Additionally, potential inflows into Bitcoin ETFs could provide additional upward momentum for Bitcoin prices.
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