Standard Chartered: Bitcoin is a tool to hedge tariff risks in the context of American isolationism, and US$76,500 is a key support level."
Online reports that Standard Chartered Bank said that as signs of "American isolationism" begin to affect market sentiment, Bitcoin may benefit from rising tariff risks. Geoffrey Kendrick, its global head of digital asset research, said that American isolationism is similar to holding legal currency. The increased risk will ultimately benefit Bitcoin. Currently, US$76,500 is a key support level, and the recent cryptocurrency sell-off may fade unless broader hedging measures emerge in traditional markets. Otherwise, Bitcoin could go back to around $84,000.
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