Bitcoin Surpasses $100,000 Amid Trade Agreement Talks
On Thursday, Bitcoin managed to break the $100,000 mark for the first time since early February, thanks in part to a variety of contracts from the US and UK. This surge may suggest a potential easing of tensions from President Trump’s ongoing trade war.
By around noon, Bitcoin was valued at $101,329.97.
While it sits below the all-time high of over $109,000 reached in January, the cryptocurrency has bounced back into positive territory this year.
Ether, the main currency for the Ethereum blockchain, saw a notable increase of over 14%, now trading at $2,050.46, marking its highest since late March.
The day featured a significant announcement from President Trump alongside British Prime Minister Kiel Starmer, revealing a “breakthrough agreement” that maintains a 10% tariff on British goods entering the US.
This agreement follows Trump’s initiation of a global trade war through a series of tariffs imposed after his return to office in January.
Nexo, co-founder of a digital asset trading platform, highlighted that reaching the $100,000 mark should be considered one of Bitcoin’s more impressive accomplishments. There’s this notion that capitalizing at the peak, particularly after a dip to around $74,000 last month, could be favorable.
With risk appetite reopening in the market, the rapid rebound to $100,000 suggests that purchases from long-term holders—those who keep assets for at least 155 days—are driving momentum, potentially aiming for a recovery above $109,000.
Between February and April, Bitcoin and other cryptocurrencies experienced a sharp decline as traders worried about Trump’s slow pace in addressing these trade tensions. Following the president’s announcement of extensive tariffs in early April, many rushed to secure safer assets, causing a simultaneous drop in Bitcoin, stocks, and other high-risk investments.
Other cryptocurrencies have not seen such a strong recovery; for instance, ether remains about 50% down from its late 2024 peak.
Market strategist Joel Kruger from LMAX Group noted an influx of institutional investors into Bitcoin exchange-traded funds, contributing to the alleviation of geopolitical stress and the easing of Chinese measures aimed at boosting monetary stimulus.
