Standard Chartered Analyst: $100K Bitcoin Target Hinges on Liquidity
Bitcoin’s rebound toward $69,000 is gaining momentum, and Standard Chartered’s Geoff Kendrick sees room for further upside. In a note dated August 19, 2026, Kendrick highlighted improving liquidity conditions and a potential cycle bottom, setting a $100,000 price target for the cryptocurrency.
US Treasury Doubles Long-End Buybacks: The Mechanism
The US Treasury’s decision to double its long-end buybacks is a key driver. By increasing purchases of longer-dated securities, the Treasury injects liquidity into the financial system, which tends to support risk assets like Bitcoin. Kendrick argues this liquidity boost, combined with a stabilizing macroeconomic backdrop, could push BTC to six figures.
Bitcoin’s Path: From $69,000 to $100,000
Bitcoin is currently trading near $69,000, recovering from recent lows. Kendrick’s analysis suggests that if liquidity conditions continue to improve, the next leg up could target $100,000. This would represent a roughly 45% gain from current levels, a move that historically has occurred in previous bull cycles.
What Would Change the Thesis: Monitoring Liquidity and Fed Policy
Investors should watch the Federal Reserve’s policy stance and Treasury’s buyback schedule. If the Fed signals tighter policy or the Treasury scales back buybacks, Bitcoin’s rally could stall. Conversely, sustained liquidity injections could accelerate the move toward $100,000.
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