Analysis: If market concerns about the independence of the Federal Reserve persist, it may drive BTC to continue hitting new highs

Odaily Planet Daily reported that Geoff Kendrick of Standard Chartered Bank pointed out in a report that if market concerns about the independence of the Federal Reserve persist, Bitcoin may rise to a historic high. He stated that due to Bitcoin's adoption of decentralized ledger technology, this cryptocurrency is a hedging tool against risks in the existing financial system. At present, after President Trump of the United States hinted that Jerome Powell, the chairman of the Federal Reserve, might be replaced because he wanted to cut interest rates, the US treasury bond is facing risks, and this situation is emerging. Kendrick said that the yield premium required by investors to buy long-term treasury bond rose sharply compared with short-term treasury bond, and Bitcoin benefited from it. According to data from the London Stock Exchange Group (LSEG), Bitcoin has risen to a six week high of $90459. Standard Chartered Bank predicts that by the end of 2025, Bitcoin will rise to $200000.