Key insights:
Bitcoin climbed beyond $111,000 on Monday, fueled by favorable macro conditions and a possible US-China trade agreement.
Technical analysis indicates bull flags aiming for a BTC price of $186,000-$192,000 in the upcoming weeks.
Bitcoin (BTC) surged past $111,000 at the beginning of the European trading session on Monday, as positive macroeconomic indicators rekindled investor confidence.
Macro data provides bullish signals for Bitcoin
Bitcoin reached a peak of $111,430, reflecting a 4% increase in the last 24 hours and a 7.6% rise from Friday’s low of $103,530, based on data from Cointelegraph Markets Pro and TradingView.
Related: Bitcoin’s next surge will commence once early sellers finish: Analysts
Other major cryptocurrencies mirrored Bitcoin’s performance, with Ether (ETH) gaining 4.6% to hold above the crucial $4,000 mark.
XRP (XRP), Solana (SOL), BNB (BNB), and Dogecoin (DOGE) increased by 3% to 5% within the past 24 hours. The total cryptocurrency market capitalization rose by 4.6% to reach $3.78 trillion.
Bitcoin’s latest surge is attributed to positive macroeconomic developments, including US President Donald Trump’s confirmation of a summit with China’s Xi Jinping on October 31.
De-escalating tensions and increasing prospects for a US-China trade deal serve as favorable price catalysts for cryptocurrencies.
Crypto prices recently dropped due to significant macroeconomic events, including Trump’s announcement about China tariffs and rising concerns regarding US regional banks’ exposure to bad loans.
Concurrently, market participants are anticipating a 99% probability of a 25-basis-point rate reduction during the October 28-29 FOMC meeting, lowering rates to 3.75%-4% based on insights from the CME Group FedWatch tool.
Fed Chair Jerome Powell has recently alluded to a potential cessation of quantitative tightening (QT) by January 2026, which could introduce more liquidity, reminiscent of the cryptocurrency price wave in 2021.
Bull flags converge at a $190,000 BTC target
On a technical front, Bitcoin’s recent uptick on Monday follows a bullish indication from the RSI. The momentum indicator reached its lowest point since April, presenting a clear bullish divergence on the four-hour chart, with higher lows forming as the BTC/USD pair approached 15-week lows at $103,500.
This suggests that selling pressure is subsiding, with traders increasingly buying on pullbacks.
The macro setup reinforces Bitcoin’s strength in longer time frames, and the two-week chart shows multiple bull flags indicating higher targets for BTC.
The first bull flag formed between September 2023 and October 2024, validated during the 2024 US election rally and still active, with a measured target of $192,000.
The second bull flag emerged between September 2024 and December 2024, targeting $186,000.
A smaller flag has been developing since March this year and will be confirmed once the price exceeds the upper boundary at $115,000. Such a breakout would pave the way for a rally towards the measured target of $192,000, aligning with higher targets.
A similarly bullish perspective was shared by analyst Mags, who noted Bitcoin could continue to rise within an ascending channel on the weekly chart, potentially reaching between $250,000 and $290,000.
Analyst Aksel Kibar, however, has a more cautious target for Bitcoin, suggesting that an inverse head-and-shoulders pattern remains in play with a projected target of $141,300.
Weekly scale chart, $BTCUSD holding the neckline. Range still 109K-124K. pic.twitter.com/jZQwVO48Ch
— Aksel Kibar, CMT (@TechCharts) October 20, 2025
As reported by Cointelegraph, Bitcoin’s weekly close above $108,000 is a strong indicator that bulls are poised to resume the upward trend with the key support level regained.
This article does not provide investment advice or recommendations. All investments and trading decisions involve risk, and readers should conduct their own research before making any decisions.
