Bitcoin trades above $106,000 as market shrugs off US credit downgrade; Ethereum, Chainlink jump over 7%

Bitcoin surged past $106,000, driven by Moody’s US credit downgrade, rising institutional adoption, and regulatory developments. JPMorgan enabling Bitcoin purchases and optimism around the GENIUS Act added momentum. Analysts highlight $107,500 as key resistance. Altcoins also gained, with Chainlink, Solana, and Avalanche leading the rally.