Standard Chartered Issues Warning on Bitcoin Price Ahead of US Elections
Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered, has warned about the Bitcoin price.
Bitcoin price volatility could increase and a potential pullback could occur as the US presidential election approaches, according to Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered.
Kendrick’s analysis suggests that pre-election position liquidations could pressure Bitcoin prices and reduce the likelihood of a break above all-time highs.
Bitcoin, currently trading at $70,563, recently approached the all-time high of $73,700 set on March 14. However, Kendrick noted that election-related sell-offs could hurt Bitcoin’s chances of breaking that threshold. “There is a risk of unwinding pre-election positions, meaning we are more likely to be below $73,000 on Election Day,” he wrote in a recent note.
Kendrick pointed to the Bitcoin options market, which could signal increased volatility as the election approaches. The seven-day option premium is rising above the 30-day premium, a trend Kendrick attributes to the possibility of a late reaction to the election results. Kendrick said the trend is reminiscent of the volatility experienced before the Bitcoin ETF was launched in early January. “The options markets have a form that is very similar to the implied volatility that occurs around well-known events like ETF launches and, by implication, the US election,” he said.
While a short-term pullback is in sight, Kendrick believes that a Republican takeover of Congress could spark a significant BTC rally, with BTC reaching $125,000 by the end of the year. A Republican victory could also support other digital assets, with Kendrick noting that Solana would be a potential winner in this scenario.
*This is not investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
The Daily: What's next for crypto after the Trump tariff tantrum, South Korea's 'kimchi premium' soars to 10-month high and more
Crypto markets crashed after President Trump’s weekend tariff announcements, with bitcoin dropping over 10%, ether plunging 36% and leading memecoins falling more than 40% amid broad risk-off sentiment.South Korea’s bitcoin “kimchi premium” surged to a 10-month high of 9.7% on Monday as local prices remained steady amid a broader global crypto sell-off, according to data from CryptoQuant.
ApeChain’s Spotlight Loyalty Program: How Can You Earn Rewards?
Russia Mandates Crypto Miner Registration by November 1, 2025
Why Crypto Market Crashed? Trump’s Tariff or Top Signals?