TechFlow news — Geoff Kendrick, Head of Foreign Exchange and Digital Asset Research at Standard Chartered, said that the Federal Reserve's recent decision to cut interest rates by 50 basis points could provide sustained support to Bitcoin and the broader digital asset market.
Kendrick believes macroeconomic factors will drive higher prices for digital assets, a trend unaffected by the outcome of the upcoming U.S. presidential election.
He noted strong performance in Bitcoin and other digital assets following Wednesday’s Federal Open Market Committee (FOMC) rate cut. Kendrick stated that a steepening U.S. Treasury yield curve is favorable for digital assets, and he expects inflows into spot Bitcoin ETFs in October.
Kendrick reiterated his previous forecast that Bitcoin will reach new all-time highs by year-end—potentially hitting $125,000 if Trump wins, or $75,000 if Harris wins.
