Bitcoin experienced a significant surge to $115,000 on Monday, marking an increase of over 1% in 24 hours. This uptick was fueled by a wave of market optimism, primarily driven by easing U.S.-China trade tensions and a renewed investor appetite for risk assets across global markets. This positive momentum has led prominent figures in the digital asset space to express strong bullish sentiment regarding Bitcoin's future price trajectory.

The improving trade relationship between Washington and Beijing has been a key catalyst, shifting previous market fear into hope. U.S. Treasury Secretary Scott Bessent's statement suggesting a potential year-long postponement of restrictions on China's rare earth exports, coupled with reports of China's plans to purchase substantial quantities of U.S. soybeans, ignited a relief rally that extended across equities, commodities, and the cryptocurrency market. This anticipated agreement, expected to be finalized after the upcoming Trump-Xi summit in South Korea, has significantly bolstered risk appetite, pushing the bitcoin-to-gold ratio back above its levels prior to October 10, when tariff threats caused a market downturn.

Further contributing to the bullish macro tailwinds are expectations for a 25-basis-point rate cut at the Federal Open Market Committee (FOMC) meeting later this week, a move widely perceived as positive for Bitcoin. Concurrently, fresh inflows into spot Bitcoin Exchange-Traded Funds (ETFs) signal robust institutional confidence. Notably, over $2 billion exited U.S. gold ETFs late last week, and analysts suggest that if even a portion of this capital flows into Bitcoin funds, it would represent a substantial vote of confidence. This rebound in ETF inflows follows a period of significant outflows on October 16, with a strong recovery observed through a $446.3 million inflow recorded on October 25, underscoring firm institutional conviction in Bitcoin exposure.

Reflecting this prevailing optimism, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered Bank, has posited that Bitcoin's price may “never fall below $100,000 again” should the current macro tailwinds persist. Similarly, veteran investor and popular Bitcoin advocate Anthony Pompliano declared on October 27 that Bitcoin is “cleared for takeoff,” signaling a renewed bullish momentum after its recent consolidation around the $103,000 mark. These statements align with a sudden shift in investor sentiment across the broader crypto market, with leading cryptocurrencies retesting previous highs.

Bitcoin has demonstrated remarkable resilience, recovering massively from the October 10 crash that had pushed its price dangerously close to the $99,000 level. Despite a brief correction from its all-time high of $126,000 achieved earlier this month on October 6, the world's leading cryptocurrency has successfully retested the $116,000 support level. This recovery phase is considered the “takeoff level” by some experts, confirming a continuation of its upward trajectory. The asset has maintained strong fundamentals and tightening supply dynamics, with whales and institutions, including Strategy, continuing to steadily accumulate large quantities, further fueling investor optimism for a new bull run and a potential new all-time high.

While bulls have made modest progress, stronger resistance levels loom overhead at $117,600 and $122,000, suggesting that bears still exert some control. A decisive break above $122,000 could pave the way for a push towards $128,000, which marks the upper boundary of a broadening wedge pattern. Conversely, maintaining bullish momentum relies on critical support levels. The key short-term support at $106,900 held throughout the previous week, providing market stabilization. A drop below this point could expose the $105,000-$102,000 support zone, which has been tested twice, increasing the likelihood of a breakdown upon a third test. Beyond these, $96,000 stands as a crucial long-term support, acting as a do-or-die floor for the broader bull market if prices decline further. As of press time, Bitcoin was trading at $115,041, registering a 1.22% gain over the last 24 hours.

Investors are also closely monitoring a packed earnings calendar, with major tech and crypto heavyweights such as Microsoft, Meta, Google, Apple, Amazon, Coinbase, and Strategy scheduled to report this week, which could further influence market dynamics.