Bitcoin Price Expected To Rise Amid Favorable US Economic Conditions

According to Odaily, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, has indicated that the current economic conditions in the United States are conducive to a rise in Bitcoin prices. Following the Federal Reserve's interest rate cut last week, the yield curve for US Treasury bonds has steepened, with the difference between 2-year and 10-year Treasury yields standing at approximately 21 basis points. This suggests a market optimism regarding future economic growth. Additionally, bullish sentiment in the Bitcoin derivatives market has increased, as evidenced by a significant rise in open interest for $100,000 Bitcoin options expiring on December 27. Furthermore, recent supportive comments on cryptocurrency technology by US Vice President Kamala Harris are also seen as a positive factor for the market. Notably, Vice President Harris made these remarks on Sunday, September 22, marking her first public endorsement of encouraging cryptocurrency business.