{"id":3318,"date":"2024-11-26T15:32:05","date_gmt":"2024-11-26T15:32:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=3318"},"modified":"2024-11-26T15:32:05","modified_gmt":"2024-11-26T15:32:05","slug":"bitcoin-correction-could-go-as-deep-as-88700-but-125000-year-end-target-remains-in-play-says-standard-chartered","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=3318","title":{"rendered":"Bitcoin Correction Could Go As Deep As $88,700 But $125,000 Year-End Target Remains In Play, Says Standard Chartered"},"content":{"rendered":"<div>\n<p><strong>Bitcoin<\/strong>\u2018s (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) sharp pullback from its record high just under $100,000 has sparked concern among traders, with <strong>Standard Chartered<\/strong>\u2018s <strong>Geoffrey Kendrick<\/strong> attributing the correction to several factors, including a reduction in U.S. Treasury term premium and <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/42172993\/bitcoin-slides-below-95000-analyst-predicts-potential-correction-to-85000\">upcoming options expirations.<\/a><\/p>\n<p><strong>What Happened: <\/strong>According to Kendrick, the significant reduction in U.S. Treasury term premium following President-elect <strong>Donald Trump<\/strong>&#8216;s <a href=\"https:\/\/www.benzinga.com\/news\/24\/11\/42158330\/trumps-treasury-secretary-pick-scott-bessent-says-a-global-economic-reordering-is-on-the-way-argues-president-elects-policies-will-lead-to-an-economic-lollapalooza\">Treasury Secretary announcement<\/a> triggered Bitcoin&#8217;s decline.<\/p>\n<p>In a note sent to Benzinga, he explained that Bitcoin is often viewed as a <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/09\/41050565\/bitcoin-shines-as-hedge-against-major-geopolitical-events-says-research-firm\">hedge against traditional financial issues<\/a>, and lower term premiums undermine its appeal in this role.<\/p>\n<p>Data from the New York Fed, which tracks term premium movements, supports the connection between recent Treasury market activity and the crypto market\u2019s performance.<\/p>\n<p>&#8220;Bitcoin thrives on uncertainty in traditional finance. When Treasury term premiums drop, that hedge utility temporarily diminishes,&#8221; Kendrick noted.<\/p>\n<p>Further adding &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/42192364\/bitcoin-correction-could-go-as-deep-as-88700-but-125000-year-end-target-remains-in-play-sa\" alt=\"Bitcoin\" correction could go as deep but year-end target remains in play says standard chartered>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2018s (CRYPTO: BTC) sharp pullback from its record high just under $100,000 has sparked concern among traders, with Standard Chartered\u2018s Geoffrey Kendrick attributing the correction to several factors, including a reduction in U.S. Treasury term premium and upcoming options expirations. What Happened: According to Kendrick, the significant reduction in U.S. Treasury term premium following President-elect [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-3318","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3318"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/3318\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}