Bitcoin’s price surged past $100,000 for the first time since early February, driven by optimism surrounding a broad trade deal between the United States and the United Kingdom. This milestone suggests that the global trade war initiated by U.S. President Donald Trump may be easing.
As of midday, Bitcoin was trading at $101,329.97, marking a 4.7% increase for the day. Despite this recovery, Bitcoin’s price remains below the record high of over $109,000 reached in January.
Ether, the cryptocurrency native to the Ethereum blockchain, also saw a significant jump, rising more than 14% to reach $2,050.46, its highest level since late March.
The breakthrough trade agreement between President Trump and British Prime Minister Keir Starmer included a provision to maintain a 10% tariff on U.K. goods exported to the U.S. but lowered tariffs on U.S. goods entering the U.K. from 5.1% to 1.8%. This deal grants U.S. products greater market access in the U.K.
This agreement marks the first major trade deal since Trump returned to the White House in January and reignited the global trade conflict.
Antoni Trenchev, co-founder of the cryptocurrency trading platform Nexo, commented in an email, “Regaining the $100,000 mark must be one of Bitcoin’s toughest achievements, and it serves as a reminder that buying during periods of panic—like last month when Bitcoin was hovering around $74,000—can be highly profitable.”
He added, “With risk appetite returning, the speed at which Bitcoin has surged to $100,000 signals that the cryptocurrency’s price may soon break through the $109,000 mark as long-term holders (those holding for at least 155 days) have been buying far more than short-term holders are selling.”
Bitcoin, along with other cryptocurrencies, experienced a sharp decline between February and April due to concerns that cryptocurrency reforms under the Trump administration would progress more slowly than expected. The announcement of comprehensive tariffs in early April further prompted investors to seek safer assets, leading to significant declines in Bitcoin, stocks, and other riskier assets.
Other cryptocurrencies did not experience such strong rebounds. Ether, for example, is still 50% below its peak at the end of 2024.
Joel Kruger, market strategist at fintech firm LMAX Group, noted that the inflow of institutional investors into Bitcoin exchange-traded funds, the easing of geopolitical tensions, and China’s monetary stimulus measures were key factors behind Bitcoin’s surge.
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