Bitcoin Price Jumps to $115,000 As Analyst Says It May Never Fall Below $100K Again

Bitcoin's price rose to $115,000, gaining over 1% in 24 hours, fueled by positive sentiment regarding improving US-China trade relations, including postponed rare earth export restrictions and planned Chinese soybean purchases. Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, suggested that if current macro tailwinds persist, Bitcoin might never drop below $100,000 again. Key bullish signals include renewed risk appetite, the bitcoin-to-gold ratio recovering, and fresh inflows into spot Bitcoin ETFs. Furthermore, expectations for a 25-basis-point rate cut at the upcoming FOMC meeting are viewed as bullish for Bitcoin. Technically, while resistance lies at $117,600 and $122,000, short-term support at $106,900 is crucial; a drop below this could lead to the $105,000–$102,000 zone, with $96,000 being the critical long-term floor.

(Source：Bitcoin Magazine)