Bitcoin is nearing 89,000 USD while traditional markets like the S&P 500 and Nasdaq face significant declines. Standard Chartered’s Geoff Kendrick stresses Bitcoin’s role as a hedge against risks in the financial system and US Treasuries, showcasing its resilience amid economic uncertainty.
A recent index from Bitwise suggests a shift to a “slightly bullish” sentiment in the crypto markets. Analysts note that Bitcoin’s decentralized nature positions it as a crucial hedge against financial system risks, amidst rising concerns about the US Treasury bond situation.
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