NEW YORK / LONDON (IT BOLTWISE) – Bitcoin has surpassed $110,000 as traders hope for a possible interest rate cut in the US. The cryptocurrency witnessed a 3.16% increase in 24 hours, driven by institutional inflows and improving macroeconomic conditions. Despite geopolitical tensions between the USA and China, the mood remains optimistic.
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Bitcoin surpassed $110,000 on Monday, signaling positive developments in the broader crypto market. Traders are expressing confidence that macroeconomic conditions will improve, leading to a 3.16% increase in 24 hours. This development follows a period in which Bitcoin traded below $110,000 for four days.
Other cryptocurrencies such as Ether, BNB and XRP also recorded gains, indicating an overall recovery in the market. According to Rachael Lucas, crypto analyst at BTC Markets, Bitcoin’s recent surge has been fueled by institutional inflows and an improving liquidity situation. Demand for spot crypto ETFs has increased as many investors view the recent sell-off as a buying opportunity.
Market participants are speculating on a possible US interest rate cut in October, which could improve liquidity for risky assets such as digital assets. Federal Reserve Chairman Jerome Powell has suggested that despite robust growth, weakness in the labor market remains. This assessment has lowered bond yields and improved crypto market conditions.
Analysts are closely watching the key levels of $107,000 and $110,000. A break below the support at $107,000 could lead to liquidations, while sustained buying pressure above $111,000 could further strengthen the momentum. Despite the positive outlook, geopolitical tensions, particularly between the US and China, remain a risk for the market.
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