Bitcoin’s rebound towards $69,000 is gaining strength. Geoff Kendrick, analyst at Standard Chartered, links this increase to an improvement in liquidity. Its analysis is based on the US Treasury’s measurements of long bonds. The $65,500 level becomes central. A breakout could signal that the low point has been reached and open a new phase. This development comes as the market monitors returns. A favorable context supports its analysis and projection.
In brief
- Standard Chartered targets $100,000 for Bitcoin by the end of 2026.
- The $65,500 threshold could confirm that the low point of the cycle has passed.
- The US Treasury is doubling its long-term bond buybacks to support liquidity.
- Bitcoin jumped more than 6% and reached almost $69,000 after the announcement.
Bitcoin facing a major threshold
Geoff Kendrick considers $65,500 to be a defining level. Its crossing could confirm that the low point has passed. It is based on the four-year bitcoin cycle. This reading supports a sustainable recovery.
In a note recent to a client relayed by Cointelegraph, Kendrick mentions 100,000 dollars before the end of 2026. He believes that bitcoin must be considered. This projection remains linked to movement. On Wednesday, the price of BTC jumped more than 6%, reaching almost $69,000.
Bitcoin has returned to its highest level since early June. This progression comes as markets follow liquidity. The threshold of $65,500 remains of particular importance. Its break would reinforce the reading of the cycle.
US Treasury supports long bonds
The US Treasury will increase some government bond buybacks. The operations concern maturities of 10 to 20 years and 20 to 30 years. Their ceiling will increase from 2 to at least 4 billion per operation. The program will run from September to November.
The measure aims to support liquidity on the long end of the market. After a sell-off, the yields increased the pressure. L’announcement published on Wednesday caused a drop in long-term yields. For Kendrick, this change improves the environment for bitcoin.
The analyst emphasizes that “ public interventions on liquidity can favor bitcoin “. It highlights its fixed offer and its 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 is reacting to financial changes. The move near $69,000 marks an acceleration after a period of pressure. However, the $65,500 remains essential to validate the scenario. Confirmation would strengthen Kendrick’s hypothesis.
The decline in long-term yields is a factor to watch. The Treasury program modifies the conditions on certain deadlines. Its calendar will allow liquidity to be observed until the beginning of November. The markets thus have an element.
In the short term, BTC remains between price recovery and technical confirmation. Kendrick is looking at $100,000 before the end of 2026. This outlook depends on favorable conditions. The next step will check the solidity of the threshold. If $65,500 becomes support, the scenario of a low point being reached will gain credibility. Otherwise, the market will have to reassess the strength of the rebound. The coming weeks will measure the effect of the new measures.
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