Bitcoin surged past $115,000, gaining 3.5% in the past 24 hours, as global markets rallied on renewed macro optimism and strong institutional inflows. Bitcoin’s market cap has reached $2.3 trillion, supported by a 106% jump in 24-hour trading volume to over $49 billion.
Macro Risk Appetite Boosts Crypto Momentum
The rally coincides with a broader recovery in risk assets after U.S. and Chinese officials announced a preliminary trade deal framework during high-level meetings in Kuala Lumpur. The agreement, which includes tariff suspensions and expanded trade cooperation, eased global economic tensions and spurred a $3 trillion rebound in the S&P 500 since early October.
As investors rotated out of safe havens, gold slipped 1.3%, while Bitcoin benefited from its rising correlation with equities (0.72 year-to-date). This renewed risk appetite has positioned BTC as a favored macro hedge during periods of easing geopolitical strain and potential monetary loosening.
Corporate and ETF Demand Reinforce the Uptrend
On the institutional side, demand continues to accelerate. South Korean-listed Bitplanet revealed a 10,000 BTC treasury program, beginning with a 93 BTC purchase worth $10.7 million on October 26. Meanwhile, U.S. spot Bitcoin ETFs recorded $446 million in net inflows last week.
The combination of corporate treasury adoption and ETF accumulation has further tightened Bitcoin’s available supply, a trend amplified by declining exchange reserves and miner selling moderation.
Looking Ahead
Traders now eye the Federal Reserve’s upcoming rate decision on October 29, as markets price in a potential policy pivot following soft U.S. inflation data. A dovish signal could extend Bitcoin’s momentum into November, especially if final trade deal terms between Washington and Beijing are confirmed by early next month.
With macro conditions aligning and institutional accumulation rising, Bitcoin’s rally above $115K underscores a growing consensus: the world’s largest digital asset is once again the primary beneficiary of improving global risk sentiment.