
Bitcoin‘s (CRYPTO: BTC) sharp pullback from its record high just under $100,000 has sparked concern among traders, with Standard Chartered‘s Geoffrey Kendrick attributing the correction to several factors, including a reduction in U.S. Treasury term premium and upcoming options expirations.
What Happened: According to Kendrick, the significant reduction in U.S. Treasury term premium following President-elect Donald Trump's Treasury Secretary announcement triggered Bitcoin's decline.