Bitcoin's potential rally to $115,000 is gaining traction as encouraging U.S. economic data fuels optimistic forecasts. Technical charts and recent macroeconomic figures suggest a bullish outlook for the cryptocurrency, which has seen investor sentiment reach a seven-month high.

Several factors contribute to this potential surge. A key element is the exceeding of expectations in recent U.S. economic data. Reports indicate a cooling of inflation and the rollback of US-China tariffs, both of which are boosting the crypto market's prospects despite lingering economic concerns and uncertainties surrounding Federal Reserve rate decisions. The resolution of the long-standing trade war between the U.S. and China is also playing a significant role. The finalized trade agreement, covering tariffs, semiconductor supply chains, and digital trade, has instilled renewed optimism and macro clarity in the markets.

Currently, Bitcoin is trading around $109,400, reflecting a nearly 3% increase in the past 24 hours. After a period of consolidation below $108,000, this breakout indicates traders are pricing in the improved economic outlook. The next resistance level to watch is the $111K–$112K zone, which represents its previous all-time high. A successful breach of this level could pave the way for a surge toward the $115,000 target, provided the bullish momentum holds.

Technical analysis supports this positive outlook. Bitcoin's technical charts show a bullish pennant formation, a pattern often associated with significant upward price movements. Should Bitcoin continue its upward trajectory, the $115,000 mark is well within reach.

However, it's important to consider potential risks. Despite the prevailing optimism, the market remains sensitive to economic uncertainties and unforeseen events. Traders should be vigilant for potential fakeouts, particularly as Bitcoin approaches its all-time high. Maintaining awareness of key support and resistance levels is crucial for informed trading decisions. Key support lies at $106.7K, representing the 38.2% Fibonacci retracement level.

Beyond Bitcoin, the broader cryptocurrency market is experiencing positive momentum. Ethereum (ETH) is outperforming Bitcoin, with a notable surge attributed to growing anticipation of SEC approval for a spot Ethereum ETF. This positive sentiment across the market further strengthens the case for Bitcoin's potential rally.

In conclusion, the confluence of encouraging U.S. economic data, technical indicators, and positive market sentiment suggests that a Bitcoin price rally to $115,000 is a distinct possibility. While risks remain, the current conditions favor continued upward movement, making it an exciting period for cryptocurrency enthusiasts and investors.