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Standard Chartered: Due to the favorable environment in the U.S. Treasury market for digital assets, Bitcoin is expected to break its historical high

ChainCatcher news, according to The Block, Standard Chartered believes that as long as yields remain stable and the economy runs smoothly, the current market environment is very favorable for Bitcoin and the broader digital asset space. Geoff Kendrick, the bank's global head of digital asset research, noted in a report on Friday that the 10-year U.S. Treasury yield has remained below 4.50%, indicating that the bond market does not expect the Federal Reserve to take aggressive tightening measures, which provides strong support for risk assets like Bitcoin.Kendrick stated, "Despite strong U.S. employment data, the 10-year U.S. Treasury yield has consistently failed to break above 4.50%, which is good news for digital assets. With yields not rising and the economy still robust, this 'just right' environment is very conducive to the development of digital assets." He also added that if the 10-year U.S. Treasury yield continues to stay below 4.50% before the weekend, Bitcoin could break through the key resistance level of $102,500.Furthermore, if there are no new negative factors (such as unexpected regulatory actions or macroeconomic shocks), market conditions for digital assets are expected to improve further, and Bitcoin could even break through $108,000 in February, setting a new all-time high.

10x Research: The cryptocurrency trading environment remains complex and volatile, with Bitcoin in a consolidation phase

ChainCatcher news, 10x Research stated in its latest report that the cryptocurrency trading environment remains complex and volatile during the U.S. Federal Open Market Committee (FOMC) meeting in December 2024 and the subsequent holiday season. However, there are still profit opportunities in specific areas. Bitcoin is in a consolidation phase during this period, showing no signs of a sustained upward trend, but fluctuating within a tactical trading range, which provides opportunities for strategic positioning rather than a simple bullish trend. While some initial enthusiasm is expected at the beginning of the new year, it is not the time to recreate the bullish sentiment seen from late January to March or from late September to mid-December 2024. A positive performance is anticipated at the start of the year, followed by a slight pullback before the release of the Consumer Price Index (CPI) data on January 15. If the inflation data is favorable, it may reignite optimism and drive the market up before Trump's inauguration on January 20. However, this momentum may weaken, and the market could slightly retreat before the FOMC meeting on January 29.From January to mid-November 2024, Bitcoin's dominance surged from 50% to 60%, creating significant resistance for altcoin performance. Although the dominance metric briefly plummeted to 53% within three weeks, igniting hopes for an altcoin season, it quickly rebounded to nearly 58% and then consolidated around 55%. This consolidation highlights Bitcoin's enduring dominance as the main driving force in the cryptocurrency market while also indicating that altcoins may face potential challenges—unless Bitcoin's dominance metric declines again.
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