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Bitcoin value soared to $115,000 on Monday, increasing more than 1% in 24 hours, as positivity regarding alleviating U.S.–China trade conflicts and renewed investor zest for risk assets lifted global markets.
According to Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, the Bitcoin value may “never drop below $100,000 again” if this week’s macroeconomic tailwinds persist.
In a communication to clients, Kendrick mentioned that enhancing trade dynamics between Washington and Beijing have transformed last week’s market anxiety into “optimism.”
U.S. Treasury Secretary Scott Bessent’s weekend remark that limitations on China’s rare earth exports might be deferred for a year, along with reports that Beijing intends to purchase substantial amounts of U.S. soybeans, ignited a relief rally across equities, commodities, and cryptocurrencies.
China, U.S trade agreements and FOMC interest rate reductions
The pact, anticipated to be concluded following the forthcoming Trump–Xi summit in South Korea, has revitalized risk appetite and pushed the bitcoin-to-gold ratio above levels seen before October 10 — the date when 100% tariff threats caused market declines.
Kendrick indicated that new investments into spot bitcoin ETFs serve as another important indicator of strength. Over $2 billion flowed out of U.S. gold ETFs late last week, and if even half of that reallocates to bitcoin funds, he stated, it would signal a significant vote of confidence.
The analyst also emphasized macroeconomic tailwinds, including anticipations for a 25-basis-point interest rate drop at Wednesday’s Federal Open Market Committee (FOMC) gathering — a shift widely perceived as favorable for bitcoin.
In the meantime, investors are monitoring a busy earnings schedule from both tech and crypto giants. Microsoft, Meta, and Google are scheduled to announce results on Wednesday, followed by Apple, Amazon, Coinbase, and Strategy (formerly MicroStrategy) later in the week.
“If this week unfolds positively — bitcoin may never dip below $100,000 again,” Kendrick remarked.
Bitcoin value forecast
While bulls have made moderate strides with Bitcoin, greater resistance remains above at $117,600 and $122,000, leaving bears primarily in command.
If Bitcoin succeeds in surpassing $122,000, experts suggest the next target could be the upper boundary of a broadening wedge pattern at $128,000.
Support levels are essential for sustaining bullish momentum. The critical short-term support at $106,900 was upheld throughout last week, aiding in market stabilization.
Dipping below this level could open the pathway toward the $105,000–$102,000 support range, which has already been challenged twice, with a third attempt heightening the risk of a breakdown.
Moreover, $96,000 acts as a pivotal long-term support level for the broader bull market, serving as a make-or-break floor if prices decline further.
As of the time of writing, bitcoin was trading at $115,041, up 1.22% over the last 24 hours.
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