Standard Chartered: Bitcoin could become a hedge against U.S. trade protectionism, with $76,500 being a key support level

TechFlow, April 7 — According to The Block, Standard Chartered stated that amid U.S. trade protectionist policies, Bitcoin could become an effective hedge against risk.

Kendrick, Global Head of Digital Assets Research at Standard Chartered, pointed out that $76,500 is a key support level, representing the high point of the daily candle formed on the day after the U.S. election on November 6. Despite market contraction, Bitcoin continues to outperform most of the so-called "Magnificent Seven" tech stocks.