Bitcoin surged close to $100,000 early Thursday after U.S. President Donald Trump said he would announce a “major” trade agreement with a “big, highly respected country.” That country, it seems, is the United Kingdom.
Trump said he would expand on the agreement during a press conference later in the day, which helped push risk assets, including crypto markets, higher amid improving broader macroeconomic signals.
The deal is expected to focus on reducing tariffs, including those on steel and autos, and may address Britain’s digital services tax that has impacted U.S. tech companies.
Bitcoin rose over 2.5% in 24 hours, extending a weeklong rally, to now trade around $99,500. Investors responded to what they saw as easing geopolitical headwinds just as bond yields dropped and the dollar weakened—two factors that have historically supported crypto prices.
Bitcoin Rises on Fed Pause
Markets are also navigating a Federal Reserve pause on interest rate changes, with the central bank noting increased risks of inflation and unemployment.
That decision, alongside global shifts in trade policy, has renewed investor focus on alternative assets, which have exploded upward over the last 24-hour period, even outperforming BTC.
Meanwhile, equities advanced across the U.S., Europe, and Asia, and spot Bitcoin ETFs have seen fresh inflows, adding momentum to the crypto rally.
Bitcoin has not yet broken the six-figure barrier, but current price action underscores how macro developments, such as trade deals and central bank policy, continue to shape sentiment in the crypto space.
The $100,000 mark, it’s worth noting, acts as a psychological barrier for traders, leading to increased selling pressure around it.
