FED INDEPENDENCE CONCERNS COULD LIFT BITCOIN TO RECORD HIGH
Bitcoin could rise towards an all-time high if concerns over the Federal Reserve's independence persist, Standard Chartered's Geoff Kendrick says in a note. The cryptocurrency is a hedge against risks to the existing financial system due to its decentralized ledger, he says. This is currently playing out via risks to U.S. Treasurys after President Trump suggested he could remove Fed Chair Jerome Powell over his desire for interest rate cuts. The yield premium investors are demanding to buy long-dated Treasurys versus short-dated ones has risen sharply and this is benefiting bitcoin, Kendrick says.Bitcoin rises to a six-week high of $90,459, according to LSEG. Standard Chartered expects bitcoin to rise to $200,000 by end-2025
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