Bitcoin: Standard Chartered Sees BTC at $100,000 as Treasury Buybacks Accelerate

The rebound of bitcoin toward $69,000 is gaining strength. Geoff Kendrick, analyst at Standard Chartered, links this progression to an improvement in liquidity. His analysis is based on US Treasury measures concerning long-term bonds. The $65,500 level becomes central. A break could signal that the bottom has been reached and open a new phase. This development occurs as the market watches yields. A favorable context supports his analysis and projection.

Bitcoin Facing a Major Threshold

Geoff Kendrick considers $65,500 a decisive level. Crossing it could confirm that the bottom has passed. He relies on the Bitcoin four-year cycle. This reading supports a sustainable recovery.

In a recent note to a client shared by Cointelegraph, Kendrick mentions $100,000 before the end of 2026. He believes bitcoin should be considered. This projection remains linked to the movement. On Wednesday, the BTC price surged over 6%, reaching nearly $69,000.

Bitcoin has reached its highest level since early June. This increase occurs as markets follow liquidity. The $65,500 threshold retains particular importance. Its break would strengthen the cycle reading.

US Treasury Supports Long-Term Bonds

The US Treasury will increase some state bond buybacks. The operations concern maturities from 10 to 20 years and from 20 to 30 years. Their ceiling will go from $2 billion to at least $4 billion per operation. The program will take place from September to November.

The measure aims to support liquidity on the long end of the market. After a sale, yields had increased the pressure. The announcement published Wednesday caused a drop in long yields. For Kendrick, this change improves bitcoin’s environment.

The analyst emphasizes that “public interventions on liquidity can favor Bitcoin.” He highlights its fixed supply and resistance to depreciation. These elements occupy a central place. The market must confirm this improvement.

A Recovery Still Dependent on Liquidity

The rise shows that bitcoin reacts to financial changes. The move near $69,000 marks an acceleration after a period of pressure. However, $65,500 remains essential to validate the scenario. A confirmation would reinforce Kendrick’s hypothesis.

The drop in long yields is a factor to watch. The Treasury program changes conditions on certain maturities. Its schedule will allow observing liquidity until early November. Markets thus have an element.

In the short term, BTC remains between price recovery and technical confirmation. Kendrick envisions $100,000 before the end of 2026. This outlook depends on favorable conditions. The next step will verify the strength of the threshold. If $65,500 becomes a support, the scenario of a reached bottom will gain credibility. Otherwise, the market will need to reassess the rebound’s strength. The coming weeks will measure the impact of the new measures.