On September 20, Standard Chartered analyst Geoff Kendrick predicted that Bitcoin and digital assets would continue to rise following the recent Fed rate cut, driven more by favorable macroeconomic conditions than the outcome of the US presidential election.

In a Thursday email, Kendrick stated, "Digital assets have been leading the charge in terms of performance since the FOMC meeting. This remains the case despite Polymarket showing Harris with a 52/47 lead today." He attributed this positive performance to macroeconomic drivers starting to outweigh election-related uncertainty.

Kendrick maintained that the US presidential election was no longer as impactful on Bitcoin's price as it once was. "While the US election is important, macroeconomic drivers are beginning to take the lead," said Kendrick, who is monitoring the difference between short-term and long-term US Treasury yields as an indicator of market conditions favorable to digital assets. "I have been watching the US 2s10s curve, a steeper US yield curve is good for digital assets."