$BTC has surged above $104,000, nearing record highs, primarily due to optimism over easing U.S.-China trade tensions and expectations of lower inflation, as well as continued strong inflows into spot Bitcoin ETFs.

The recent trade agreement between the U.S. and China, which included significant tariff reductions, has reduced global inflation fears and improved risk sentiment, driving both crypto and traditional markets higher.

Technical analysts and market leaders suggest that if $BTC maintains momentum above $105,000, it could target new highs, with some projecting possible moves toward $115,000–$150,000 in 2025.

Institutional participation is rising, evidenced by large ETF inflows, which further supports Bitcoin’s bullish trend.