Odaily News Geoff Kendrick of Standard Chartered and Matt Mena of 21Shares believe that current market conditions are favorable for Bitcoin given that the 10-year U.S. Treasury yield remains below 4.50%. Kendrick said that if yields remain at these levels throughout the weekend, Bitcoin could break through $102,500 and could potentially set a new all-time high of more than $108,000 in February.
Kendrick said: "Despite the details of the US employment data released today, the 10-year US Treasury yield has been unable to break above 4.50% so far, which is very constructive for digital assets. The yield is not higher, but the economic conditions are still good, which is a golden period for the development of digital assets." (THE BLOCK)