US Treasury Doubles Bond Buybacks, Standard Chartered Sees Bitcoin at $100K by Year-End

According to Forbes, Bitcoin rebounded strongly and broke through $69,000, with $1.29 billion in short positions liquidated within about an hour. On the same day, the US Treasury announced it would at least double the size of its long-term bond buybacks to $4 billion per operation, to be executed from September 9 to November 4. Geoff Kendrick, Head of Digital Assets Research at Standard Chartered, stated that investors should position for Bitcoin to rise to $100,000 by the end of 2026, adding that the Treasury's move is "exactly the type of thing Bitcoin favors." Standard Chartered had previously cut its year-end target from $150,000 to $100,000 and pushed back its $500,000 expectation from 2028 to 2030. Bitcoin ETFs recorded net inflows of $298 million, reversing three consecutive days of outflows. The Fed's meeting minutes leaned hawkish, with interest rates held at 3.50%-3.75%, and three committee members advocated for rate hikes due to concerns that AI could fuel inflation. Kendrick noted that $65,500 must hold to confirm a bottom.