Standard Chartered analyst eyes $100K BTC as US Treasury doubles long-end buybacks
Summary
Bitcoin may be setting up for a move toward $100,000 by year-end, according to Standard Chartered’s Geoff Kendrick. He said $65,500 is the key technical level, and a breakout above it could confirm the cycle low is already in place. He also pointed to the US Treasury’s decision to expand buybacks of longer-dated government bonds, doubling the maximum size of some operations to at least $4 billion from $2 billion. The move helped push long-term Treasury yields lower and eased market pressure. Kendrick argued this kind of liquidity support tends to favor Bitcoin because of its fixed supply and resistance to monetary debasement. Bitcoin rose more than 6% on the day, nearing $69,000.
