Standard Chartered Digital Assets Chief: Some options traders bet that Bitcoin will reach $100,000 by the end of the year or that crypto comments supported by Harris are the cause

ChainCatcher news, according to The Block, Standard Chartered's Global Head of Digital Asset Research Geoff Kendrick stated that since the Federal Reserve lowered the federal funds rate last week, the long-term borrowing costs for U.S. Treasuries are relatively higher than short-term borrowing, which typically indicates optimism about future economic growth and helps create a favorable environment for investments, including Bitcoin.

Geoff Kendrick also noted that the situation in the derivatives market similarly supports his optimistic view on Bitcoin. This week, he observed the addition of some major Bitcoin call options centered around a strike price of $100,000 in the options market. This indicates that other factors are influencing the decision-making of derivatives traders. From a timing perspective, the most likely new factor is Vice President Harris's comments made on Sunday, September 22, when she first announced that she would encourage cryptocurrency businesses.