Standard Chartered: Bitcoin is a tool to hedge tariff risks in the context of US isolationism, and $76,500 is the key support level

04/07 11:16

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Standard Chartered Bank stated that as signs of "American isolationism" begin to affect market sentiment, Bitcoin may benefit from the increased tariff risk. Geoffrey Kendrick, global head of digital asset research, stated that American isolationism is similar to an increase in the risk of holding fiat currency, which will ultimately benefit Bitcoin. Currently, $76,500 is a key support level, recent cryptocurrency sell-offs may fade unless more widespread risk aversion measures appear in traditional markets, in which case Bitcoin may return to around $84,000.

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