Bitcoin rose more than 20% from around $64,500-$65,000 on August 19 to over $79,000 on August 21 after the U.S. Treasury expanded its long-term Treasury bond buybacks. Standard Chartered's global head of digital assets research Geoff Kendrick said the bank's $100,000 year-end target may be too low, with the rally driven by short squeezes and recovering inflows into U.S. spot Bitcoin ETFs. Kendrick anticipates Bitcoin could test its all-time high of $126,000 again by year-end.