Analyst says Bitcoin needs more than trade truce to reach $110,000
James Toledano, COO of Unity Wallet, has said that Bitcoin’s (CRYPTO:BTC) potential breakout to $110,000 is possible but cautioned that the recent rally is largely driven by market sentiment rather than strong fundamentals.
He noted that the easing of U.S.-China trade tensions, including the rollback of tariffs, has given a temporary boost to risk assets such as cryptocurrencies.
“Toledano argues that Bitcoin’s recent rebound, which has seen the top crypto asset surpass the $100,000 mark for the first time since February 4, is hollow because it is based on sentiment and the political moves of a single man,” according to his statement.
Despite increased demand shown by Bitcoin ETF inflows, Toledano said macroeconomic uncertainties continue to limit upside potential.
He emphasised the need for sustained institutional buying and clearer regulatory guidance before Bitcoin can attempt a new all-time high.
The U.S.-China trade war, which saw tariffs rise to an effective 145% before recent reductions to about 30%, has affected global markets including stocks and bonds.
Toledano commented on crypto’s sensitivity to global instability, noting that digital assets have increasingly been viewed as macro hedges.
“Recent patterns show crypto no longer operates in a vacuum; it reacts in tandem with traditional financial markets, especially during acute stress,” he said.
He also highlighted that unlike equities tied to economic cycles and government policies, cryptocurrencies often rebound faster and attract capital during prolonged crises due to their decentralised nature.
This independence from central banks makes crypto an alternative store of value and medium of exchange during times of instability.
Toledano concluded that while geopolitical or economic unrest may cause short-term volatility, crypto’s structural independence could allow it to outperform traditional assets over time.
According to Toledano, Bitcoin’s path to $110,000 requires more than just positive trade developments and depends on stronger fundamentals and market support.
At the time of reporting, the Bitcoin (BTC) price was $102,476.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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