PANews reported on October 15th that, according to Geoff Kendrick, the head of digital asset research at Standard Chartered, BTC is showing a strong pump momentum, possibly approaching its historical high of $73,800 before the U.S. election. Factors driving the BTC pump include the steepening of the U.S. Treasury yield curve, inflows into Spot BTC ETF, and the rise in the probability of Trump’s victory. Currently, the data shows that Trump’s chances of winning are 56.3%, and the probability of a comprehensive Republican victory is 39%, which may create favorable conditions for risk assets including BTC. In addition, the number of outstanding contracts for call options at $80,000 in the BTC options market has recently increased, indicating institutional investors’ optimism about the medium-term pump potential of BTC.
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