Bitcoin hits $101k to reclaim six-figures as Trump confirms US, UK trade deal

Bitcoin (BTC) reclaimed the $100,000 mark for the primary time in over two months, pushed by bullish market sentiment, rising institutional adoption, and renewed macroeconomic confidence after President Donald Trump introduced a significant commerce cope with the UK on Might 8.

Bitcoin hit an intraday excessive of $101,493, extending a broader rally that has gained momentum in latest weeks. The flagship crypto is now up greater than 45% year-to-date, reclaiming floor after a steep pullback to $74,000 within the first quarter.

Based mostly on CryptoSlate knowledge, Bitcoin was buying and selling at $100,633 as of press time, up almost 4% over the previous 24 hours.

The broader crypto market can be rallying, with many of the prime 10 digital belongings posting double-digit proportion good points over the previous day.

Ethereum (ETH) climbed above $2000 for the primary time since falling beneath it earlier within the 12 months. The second-largest crypto was up 13.3% over the previous 24 hours and buying and selling at $2053 as of press time.

Solana (SOL) was equally up over 10% and buying and selling round $160 as of press time, whereas BNB was buying and selling at $621 after extra modest good points of roughly 3.5% over the previous day.

XRP was up 6.4% over the previous day and buying and selling at $2.25, whereas Dogecoin (DOGE) was up over 10% and buying and selling slightly above $0.19 as of press time.

Commerce deal eases tariff issues

The announcement of a complete commerce deal between the US and the UK, geared toward lowering tariffs and boosting monetary cooperation, offered a contemporary tailwind to already-rising markets. Trump additionally hinted at upcoming offers with the EU and different main economies.

Equities, commodities, and danger belongings, together with crypto, noticed a broad-based uptick as buyers digested the information. The easing macroeconomic panorama, mixed with the expectation of the Fed easing financial coverage within the coming months, has reignited risk-on sentiment amongst buyers.

Capital inflows into Bitcoin exchange-traded merchandise have continued to speed up. Knowledge from ETF issuers exhibits that a number of spot Bitcoin funds within the US collectively attracted over $1.4 billion in new belongings final week alone.

Institutional portfolios, together with pension funds and endowments, have been rising publicity amid shifting inflation expectations and softening Federal Reserve rhetoric.

Shares of firms tied to the digital asset house additionally climbed on the information. Coinbase gained over 5.6% in early buying and selling, whereas Technique was up greater than 7% as of press time.

Cautious optimism

Bitcoin’s new milestone follows a interval of sideways consolidation that noticed wild swings in worth ranges after reaching an all-time excessive of $110,000.

Whereas momentum had stalled amid issues over US regulatory uncertainty, latest feedback from lawmakers signaling assist for clearer market construction have reignited optimism throughout the sector.

Regardless of the keenness, buyers stay cautious that Bitcoin’s six-figure threshold is as a lot a psychological marker as a technical one. BTC must maintain itself above $102,000, which is presently a key resistance degree.

Nonetheless, the milestone caps a exceptional run for Bitcoin, which was buying and selling beneath $20,000 as lately as late 2022. The present rally is one other showcase of how rapidly sentiment can shift in digital asset markets and the way deeply embedded crypto has develop into within the world monetary system.

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