#BTCBackto100K

Bitcoin has indeed broken back above $100,000, reaching a high of $101,525. This milestone comes after a surge in optimism surrounding fresh US-China trade talks and renewed institutional demand. Here are some key factors contributing to Bitcoin's recent price rally ¹ ²:

- *Trade Talk Optimism*: The US and China are expected to hold talks in Switzerland, potentially easing tariff tensions and boosting risk appetite in global markets.

- *Institutional Demand*: Spot-Bitcoin exchange-traded funds recorded $142 million in net inflows, signaling renewed interest from institutional buyers.

- *Macro Backdrop*: The Federal Reserve's decision to hold interest rates steady has removed a key overhang for risk assets, supporting the rally.

- *Correlation with Gold*: Bitcoin's 30-day Pearson correlation coefficient with gold has climbed to 0.61, indicating a growing relationship between the two assets.

Some experts are optimistic about Bitcoin's future performance ¹ ³:

- *Standard Chartered's Digital-Asset Chief, Geoff Kendrick*, reiterated his year-end target of $120,000, calling it "possibly too conservative" if geopolitical tensions continue to push capital away from US equities.

- *Chief Investment Officer at Kronos Research, Vincent Liu*, believes Bitcoin's rally is supported by falling bond yields, a weakening dollar, and renewed institutional inflows. However, upcoming US economic data, such as the budget data on May 12 and CPI on May 13, will be crucial in determining Bitcoin's next move.