Standard Chartered Bank: Bitcoin may continue to rise if the risk of Fed independence persists

Odaily Planet News - Standard Chartered Bank's Digital Asset Research Head Geoffrey Kendrick stated that Bitcoin might see further increases if the Federal Reserve's independence continues to be threatened. Currently, market concerns about the potential replacement of Fed Chair Powell have pushed the 10-year U.S. Treasury term premium to a 12-year high, while Bitcoin's response remains delayed. Kendrick noted that Bitcoin's core role in portfolios is to counter risks in the traditional financial system, including bank failures or policy interventions. Historical data shows that Bitcoin's correlation with Treasury term premiums has strengthened since 2024, and he believes Bitcoin is poised to catch up with recent gains. He reiterated his year-end Bitcoin price target of $200,000, with a 2028 target of $500,000. Additionally, he expects the total stablecoin market cap to reach $2 trillion before 2028, and is bullish on rising to $250 and reaching $12.5. (The Block)