Stanchart predicts new highs for Bitcoin in February as the US Treasury stabilizes

With the US Treasury yields remaining below 4.50%, Bitcoin (BTC) is likely to move higher, creating a macroeconomic background that favors digital assets.

In an internal note shared with Cryptoslate, Kendrick highlights that he has struggled to exceed 4.50% for the 10-year U.S. Treasury yields, and market participants are closely monitoring.

He described the economic background as a “Goldilock” scenario for digital assets. There, economic growth remains, but does not promote higher yields that allow risk assets to be weighed.

Without fresh inflation risks like stable bond yields and additional tariffs, according to Kendrick, it could create ideal conditions that drive Bitcoin towards its all-time high above $108,000 in February There is.

He noted that if Bitcoin can surpass its main support level of $95,000, it would likely return to six figures.

Kendrick wrote:

“I’m stuck with my views from Friday. In the short term, I’m more likely to go down than Bitcoin down. Looking for 95K, keep the downsides and markets, and quickly Push up towards the 102.5K level, which is important.

He emphasized that Bitcoin’s price action remains constructive as long as the main macroeconomic conditions are stable.

Trump’s tariffs

Kendrick also highlighted President Donald Trump’s recent announcement on a 25% tariff on steel and aluminum imports as a shift towards more targeted mutual tariffs rather than broad trade restrictions.

Kendrick believes the move may have a limited impact on inflation than feared, which will help reduce the Treasury yield risk. Low yields typically benefit risky assets, including Bitcoin, by reducing the appeal of bond investments.

Kendrick argued that Trump’s latest policy changes and market sentiment could move him away from fear of “bad Trump” economic turmoil.

Bitcoin has dropped significantly last week after Trump announced new tariffs on imports from Canada, Mexico and China.

BTC has dropped from around $105,000 to a low of about $91,000. The recession was attributed to investors’ concerns over potential global trade disputes and economic instability caused by tariffs.

With the US reaching an agreement with Mexico and Canada and delaying the implementation of these tariffs, Bitcoin prices have recovered to more than $100,000. However, the flagship code failed to maintain its upward momentum.

According to Cryptoslate data, Bitcoin had traded about $95,416 at the time of press time..

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