Standard Chartered Bank: Bitcoin and the broader crypto market will continue to rise after the Federal Reserve cuts interest rates

Standard Chartered Bank analyst Geoff Kendrick predicts that after the recent interest rate cut by the Federal Reserve, Bitcoin and digital assets will continue to rise. This is more driven by favorable macroeconomic conditions rather than the results of the U.S. presidential election. Kendrick pointed out in an email on Thursday: "After the FOMC meeting, digital assets ranked first in performance for the first time. Despite Polymarket showing Kamala Harris's approval rating as 52/47 today, this is still the case." He attributed this positive performance to macroeconomic drivers beginning to outweigh election-related uncertainties. Kendrick insists that the impact of US presidential elections on Bitcoin prices is not as great as it used to be. He said: "Although US elections are important, macro drivers have begun to dominate," Kendrick stated he was monitoring differences between short-term and long-term U.S Treasury bond yields as indicators of market conditions favorable for digital assets. "I observed a steeper yield curve in U.S 2s10s which favors digital assets".