The price of Bitcoin experienced a significant increase, reaching $115,000 on Monday, reflecting a rise of over 1% within a 24-hour period. This surge has been attributed to growing optimism surrounding the easing of U.S.-China trade tensions, coupled with a reinvigorated investor appetite for risk assets, contributing to positive movements in global markets.

Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, posits that Bitcoin may “never fall below $100,000 again” should the favorable macroeconomic conditions persist throughout the week.

In his correspondence with clients, Kendrick noted that the improving trade dynamics between Washington and Beijing have transformed the market sentiment from fear to “hope.”

Commentary from U.S. Treasury Secretary Scott Bessent regarding the potential postponement of restrictions on China’s rare earth exports for one year, combined with reports of Beijing’s plans to procure substantial quantities of U.S. soybeans, has triggered a relief rally across equities, commodities, and the cryptocurrency market.

U.S.-China Trade Agreements and FOMC Rate Cuts

The anticipated agreement, which is expected to be finalized following the upcoming Trump-Xi summit in South Korea, has rekindled investor risk appetite and returned the bitcoin-to-gold ratio above levels witnessed before October 10—the date when the imposition of 100% tariff threats caused market declines.

Kendrick also pointed to renewed inflows into spot Bitcoin ETFs as a vital indicator of market strength. Over $2 billion exited U.S. gold ETFs late last week, and if even half of that capital reallocates to Bitcoin funds, it would signify a substantial vote of confidence in the cryptocurrency.

The analyst further emphasized that macroeconomic headwinds, including expectations for a 25-basis-point rate cut during Wednesday’s Federal Open Market Committee (FOMC) meeting, are widely regarded as bullish for Bitcoin.

Simultaneously, investors are closely monitoring an eventful earnings calendar featuring reports from major technology and cryptocurrency firms. Microsoft, Meta, and Google are scheduled to report on Wednesday, followed by Apple, Amazon, Coinbase, and Strategy (formerly MicroStrategy) later in the week.

“If this week unfolds positively, Bitcoin may never fall below $100,000 again,” Kendrick remarked.

Bitcoin Price Outlook

While bullish sentiment has made modest gains for Bitcoin, notable resistance persists at $117,600 and $122,000, leaving bearish forces predominantly in control. Should Bitcoin surpass the $122,000 level, professionals note that the next target could be the apex of a broadening wedge pattern, estimated at $128,000.

Maintaining critical support levels is essential for fostering ongoing bullish momentum. The short-term support at $106,900 proved to be resilient throughout the previous week, aiding in market stabilization.

A decline below this support level could pave the way toward the $105,000–$102,000 support zone, which has already been tested twice; a third test could increase the likelihood of a breakdown.

Additionally, the $96,000 mark remains a pivotal long-term support level for the overall bullish trend, serving as a critical threshold should prices continue to decline.

At the time of writing, Bitcoin is trading at $115,041, reflecting a 1.22% increase over the past 24 hours.

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