Golden Finance reported that Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, attributed the recent market turmoil, including the decline of Bitcoin and the rise of long-term U.S. Treasury bonds, to the decline in the term premium of U.S. Treasury bonds. The term premium is the additional return required by investors to hold a long-term bond rather than roll over a short-term bond. Since Bitcoin is often seen as a hedge against instability in traditional financial markets, increased confidence in U.S. Treasuries could undermine Bitcoin's appeal in the short term, causing its price to fall. Kendrick said: “MicroStrategy buying shows no signs of slowing down, and they are unlikely to sell, but since the election, the average purchase price of ETF and MSTR has been $88,700, which may become a short-term bottom, and Bitcoin may be at $85,000 to $85,000. Consolidating within the $88,700 range before resuming its upward trajectory.”