StanChart optimistic about Bitcoin breaking streak of red weekends
StanChart optimistic about Bitcoin breaking mosey of purple weekends StanChart optimistic about Bitcoin breaking mosey of purple weekends
StanChart sees skill for obvious weekend performance for Bitcoin amid bettering macro instances and decrease US bond yields.
Quilt art/illustration by technique of CryptoSlate. Assert involves blended announce that might perhaps perhaps consist of AI-generated announce.
Bitcoin (BTC) might perhaps perhaps peer a turnaround this weekend after six consecutive weekends of negative returns, essentially essentially based on Identical old Chartered head of digital sources research Geoffrey Kendrick.
In a research boom shared with CryptoSlate on Feb. 14, Kendrick highlighted Bitcoin’s recent sample of used weekend trace action, with each and every weekend since early January posting negative returns.
He attributed the declines to market-shifting headlines, including volatility tied to DeepSeek-related news in unhurried January and tariff concerns on Feb. 12.
On the opposite hand, with macroeconomic instances bettering and US bond yields trending decrease, he sees a better likelihood of obvious weekend performance.
“Given we relish had the terrifying news (as below re tariffs) and US 10Y yields are currently down on the week (and in actual fact importantly below 4.5%), I contemplate this weekend could be assorted.”
Market setup capabilities to restoration
Kendrick analyzed Bitcoin’s day-of-week performance in 2024, noting that Mondays and Fridays relish most steadily been the strongest procuring and selling days.
In dissimilarity, weekend classes had been lackluster, potentially exacerbated by decrease liquidity and likelihood-off sentiment amongst merchants.
He suggested that a small obvious catalyst over the weekend might perhaps perhaps suggested renewed ETF inflows on Monday, helping Bitcoin shatter out of its recent procuring and selling range. Kendrick renowned:
“A small obvious over the weekend can lead to ETF procuring Monday after a week of ETF outflows.”
He added that Bitcoin might perhaps perhaps then take a look at key psychological stages at $100,000 and $102,500 because it is a “Giffen appropriate finally,” referencing the industrial theory where ask will enhance as costs upward thrust.
Despite recent weakness, Bitcoin has remained in an uptrend, gaining better than 20% three hundred and sixty five days-to-date.
Tariff uncertainty
Beyond Bitcoin’s technical outlook, Kendrick also talked about broader macroeconomic tendencies, notably the affect of US inflation recordsdata and shifting expectations around used President Donald Trump’s skill insurance policies.
US Treasury yields declined following a softer-than-anticipated Individual Price Index (CPI) file earlier within the week and a weaker-than-anticipated Producer Price Index (PPI) learning on Feb. 14.
The ten-three hundred and sixty five days Treasury yield, which patrons carefully peer as a gauge of borrowing costs and likelihood trot for food, remained below 4.5%, a stage Kendrick sees as optimistic for digital sources.
In step with the analyst:
“If most modern headlines are to be believed, we're past terrifying Trump from a tariff standpoint, with reciprocal tariffs finest taking earn April 1.”
He also suggested that optimism around a doable Russia-Ukraine peace deal might perhaps perhaps further shift market sentiment. He renowned:
“On the likelihood of a Russia-Ukraine peace deal, shall we be eventually shifting from terrifying Trump to appropriate Trump as some distance as likelihood sources are concerned.”
Kendrick reiterated his bullish stance on Bitcoin, suggesting that if these macro components preserve, the crypto would be now heading in the right direction to hit $102,500 within the shut to term.
In step with CryptoSlate recordsdata, Bitcoin changed into as soon as procuring and selling at $97,348 as of press time, up 2% over the past 24 hours.
Mentioned listed here
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. That specialise in monetary journalism, he now specializes in crypto reporting.
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Bitcoin, a decentralized forex that defies the sway of central banks or directors, transacts electronically, circumventing intermediaries by technique of a contemplate about-to-contemplate about network.
Identical old Chartered
Identical old Chartered PLC is a British multinational bank, headquartered in London, specializing in particular person, corporate, and funding banking, as well to treasury products and companies.
Donald John Trump changed into as soon as born on June 14, 1946, in Queens, Unique York Metropolis.
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