Bitcoin Climbs As U.S. Treasury Bond Interest Rates Dropped

U.S. Long-Term Treasury Interest Rates Down 3.9 Bp...Market Fear ↓
Altcoins Continue Downward on Oct. 25 Despite Bitcoin's Rebound
SC Bank "BTC Will Break Through All Time High Again This Year"

Bitcoin(BTC) rebounded on Oct. 25, 2024 as the soaring U.S. Treasury bond interest rates slowed.

The 10-year U.S. Treasury bond yield fell 3.9 basis points from the previous session to 4.201%. Bitcoin and cryptocurrencies, which had been restricted from rising, began to rise again as market fears that the U.S. Treasury bond yield would rise at a breakneck pace and affect the delay of the U.S. Federal Reserve's rate cut were further dampened.

News that Microsoft could decide on bitcoin's investment in December also affected bitcoin's rebound.

Microsoft submitted a delegation recommendation letter "DEF 14A" to the U.S. Securities and Exchange Commission (SEC) on the 24th and said it will evaluate various investable assets in December to fund Microsoft's operations, including Bitcoin.

DEF 14A is a disclosure document that a company must submit to the SEC before a regular shareholders' meeting.

Despite Bitcoin's rebound, many altcoins fell in succession following the previous day. Analysts say that the lack of favorable factors to boost the market at a time when Bitcoin has not shown a visible rise is the cause of the decline in the cryptocurrency market.

◇Bitcoin = Bitcoin price is $67,331 at 4:30 p.m. on Oct. 25, 2024. The Bitcoin share (dominance) was 58.18%.

Global bank Standard Chartered predicted that Bitcoin will eventually break through its high point this year due to the U.S. presidential election in November.

Standard Chartered claimed that the price of Bitcoin could hit $125,000 this year when former President Trump re-elects. The report predicted that "the price of Bitcoin will reach about $73,000 by November 5, the day of the U.S. presidential election, and Bitcoin could rise by about 10% at the end of this year when former President Trump re-elects the U.S. president."

Meanwhile, the Standard Chartered research team predicted that the price of Bitcoin will hit $75,000 at the end of this year, breaking the all-time high even when Vice President Kamala Harris is elected. The report said, "If Vice President Harris is elected, the price of Bitcoin will be traded low for a while, but it will hit $75,000 at the end of the year."

◇ Upward Coin = The cryptocurrency that recorded the largest increase from the previous trading day at 4:30 p.m. on Oct. 25 was Safe(SAFE), up about 22%.

Safe is a project that provides users with control over various assets such as identity authentication, finance, and cryptocurrency, and has strengths in security, safe, and wallet.

It has a smart contract wallet running on several blockchains, and provides a multi-signed wallet function that supports transaction processing only when approved by a certain number of people. In addition to high security through this, it has various additional service provision and gas cost saving functions for the user experience.

◇Fear Greed Index = The cryptocurrency fear-greed index provided by Alternative has entered 'Greed' phase with 72 points. The Greed phase is a phase where price volatility and trading volume increase, and the price increases. As it is highly likely to form a short-term high, caution should be taken in.

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