According to BlockBeats, on September 25, Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, said that since the Federal Reserve cut the federal funds rate last week, long-term borrowing costs for U.S. Treasuries have been relatively higher than short-term borrowing, which generally indicates optimism about future economic growth and helps create a favorable environment for investments, including Bitcoin.

Geoff Kendrick also pointed out that the situation in the derivatives market also supports his optimistic view on Bitcoin. This week, he observed that some new Bitcoin call options were added to the options market, mainly around the $100,000 strike price. This shows that there are other factors that are influencing the decisions of derivatives traders. From a timing perspective, the most likely new factor is the comments made by Vice President Harris on Sunday, September 22, when she first announced that she would encourage cryptocurrency businesses.

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