Standard Chartered analyst cites Treasury’s doubled long-end buybacks as catalyst for BTC’s potential rise to $100K by year-end.
Bitcoin’s rally toward $69,000 may accelerate as liquidity conditions improve, with Standard Chartered analyst Geoff Kendrick forecasting a $100,000 target by year-end. The projection follows the US Treasury’s decision to double buyback operations for long-dated bonds, easing pressure on yields.
The Treasury will increase maximum buyback sizes for 10- to 30-year bonds from $2 billion to at least $4 billion per operation, running from September 9 to November 4. The move aims to stabilize surging interest rates, which had triggered a bond selloff and weighed on risk assets.
Kendrick identified $65,500 as a critical technical level for BTC, suggesting a break above could confirm a cycle low. The expanded buyback program has already pushed long-dated Treasury yields lower, supporting broader market sentiment.