Bitcoin Price surged to $115,000 on Monday, rising more than 1% in 24 hours, as optimism over easing U.S.–China trade tensions and renewed investor appetite for risk assets lifted global markets.
Geoffrey Kendrick of Standard Chartered Bank’s Digital Asset Research says that Bitcoin prices may rise. “never fall below $100,000 again” If this week’s macro-tailwinds continue.
Kendrick, in a client note, said the improving trade relationships between Washington and Beijing has turned market fears from last week into “hope.”
U.S. Treasury Sec. Scott Bessent weekend statement Reports that China plans to purchase large quantities of U.S. Soybeans, coupled with the possibility that export restrictions for rare earths from China may be delayed by a year sparked an immediate rally in commodities, crypto, and equities.
China’s trade agreements with U.S., FOMC rate cuts and more
This agreement is expected to be finalized following the upcoming Trump–Xi summit in South Korea, has renewed risk appetite and pushed the bitcoin-to-gold ratio back above pre-October 10 levels — the date when 100% tariff threats sent markets tumbling.
Kendrick said that fresh inflows to spot bitcoin ETFs were another important signal. He said that over $2 billion had left U.S. ETFs for gold late last week. Even if half of this money re-entered bitcoin funds it would represent a vote of confidence.
The analyst also highlighted macro tailwinds, including expectations for a 25-basis-point rate cut at Wednesday’s Federal Open Market Committee (FOMC) meeting — a move widely seen as bullish for bitcoin.
The investor’s attention is focused on a busy earnings calendar, which includes both the tech giants and those in crypto. Microsoft, Meta and Google will report their earnings on Wednesday. Apple, Amazon Coinbase and Strategy (formerly MicroStrategy), are also scheduled to release reports later this week.
“If this week goes well — bitcoin may never fall below $100,000 again,” Kendrick said.
Price of Bitcoins
Bitcoin bulls are making modest gains. stronger resistance The overhead is $117.600 and 122,000. This leaves the bears in control.
The next potential target for Bitcoin is $128,000, if it manages to exceed $122,000.
Maintaining bullish momentum requires that support levels be maintained. Last week the $106,900 level, which is key for short-term support, helped stabilize the market.
Falling below this level could open the path toward the $105,000–$102,000 support zone, which has already been tested twice, with a third test raising the likelihood of a breakdown.
The $96,000 mark is also a key long-term level of support for the overall bull market. It acts as a floor that will determine whether prices fall further.
At the time of publication, bitcoin traded at $115.041, an increase of 1.22% from just 24 hours earlier.
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Source: bitcoinmagazine.com
