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After the U.S. Treasury <a href="https://www.thestreet.com/crypto/markets/gold-bitcoin-rally-as-u-s-treasury-makes-unexpected-bond-market-move” rel=”nofollow noopener” target=”_blank”>announced its decision to at least double the amount of longer-dated government bond buybacks on Aug. 19, Standard Chartered analyst Geoff Kendrick predicted a Bitcoin (BTC) price target of $100,000 by the end of 2026.
The Treasury’s announcement is “exactly the type of thing Bitcoin loves,” the analyst remarked and added that the cryptocurrency has a historical tendency to benefit from government liquidity interventions and its fixed supply, making it resistant to monetary debasement.
Bitcoin was trading around $64,000–$65,000 on Aug. 19 before rallying after the U.S. Treasury announcement. It subsequently climbed above $79,000 on Aug. 21, representing a gain of more than 20% from its Aug. 19 levels.
Kendrick says $100,000 price target may be ‘too low’
Following these developments, Kendrick revisited his Bitcoin price target for 2026. In a note shared with Cointelegraph on Aug. 21, he said there is a risk that his year-end target of $100,000 is “too low.”
The latest Bitcoin rally is primarily driven by the short squeeze, with help from inflows in spot ETFs, he argued.
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The analyst expects low open interest to lure more investors as price rises. He went on to say that Bitcoin may retest its all-time high (ATH) of $126,000 before the end of the year, with the rebound potentially hastening after Oct. 6.
Note that Bitcoin hit the ATH of $126,080 on Oct. 6 last year before the flash crash on Oct. 10 erased those gains.
The cryptocurrency is yet to recover from the shocking crash and is still trading 38% from its peak despite the recent rebound.
As per Decibel, Bitcoin was trading at $76,996 at the time of writing.
This story was originally published byTheStreeton Aug 21, 2026, where it first appeared in theMARKETSsection. Add TheStreet as aPreferred
Source: sg.finance.yahoo.com
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