Bitcoin Approaches $100K as Trump to Announce UK Trade Deal

Bitcoin is on the verge of crossing the $100,000 mark as President Trump plans to announce a trade deal with the UK. His post, which sparked optimism in the crypto community, coincides with a rising Bitcoin price and general bullish sentiment in the market. Several analysts believe this could push Bitcoin to new highs by 2025.

Bitcoin is racing towards the psychological milestone of $100,000 as US President Donald Trump prepares to announce a “major trade deal” with the UK. This was hinted at in a post on Truth Social on May 7, where Trump referred to a deal with a “big, and highly respected, country”. According to reports from The New York Times, sources indicate that the UK is likely the beneficiary of this upcoming agreement.

Currently, Bitcoin, known by its symbol BTC, was trading around $97,759 at the time of Trump’s post and has surged upwards, now sitting at about $99,140, according to CoinMarketCap. Cryptocurrency enthusiasts are linking this price surge to speculations spurred by the anticipated trade negotiations. Neil Jacobs, co-founder of FOMO21, remarked on X that much of the rally can be attributed to Trump’s announcement.

Investor and crypto entrepreneur Anthony Pompliano expressed optimism, suggesting that this trade deal boosts the chances of Bitcoin achieving new all-time highs by 2025. It’s worth remembering that Bitcoin previously hit its highest price of $109,000 on January 20, just ahead of Trump’s inauguration.

Pandora’s CEO, Sahib Anandsongvit, also weighed in on the situation. He couldn’t help but recall that Bitcoin was just priced at $80,000 a few weeks prior, drawing attention to its current value nearing $98,000 when he posted. Bitcoin saw its last trade at the $80,000 mark on April 11, and it took until April 22 to reach $90,000.

The timing of Trump’s announcement coincided closely with the Federal Reserve’s decision to maintain stable interest rates at 4.25% to 4.50%. This decision came despite Trump’s relentless calls for rate cuts. The last time Bitcoin reached $100,000 was on February 1, which was shortly after Trump proposed imposing import tariffs on several countries, including China, Canada, and Mexico. Meanwhile, the cryptocurrency market sentiment appears to be optimistic, with the Crypto Fear and Greed Index reflecting a “Greed” rating of 65.

In the past 24 hours, Bitcoin experienced a 3% increase, resulting in the liquidation of about $96 million in short positions, as recorded by CoinGlass. This buying frenzy signals growing confidence among investors in the crypto space.

It’s important to note this article is not financial advice. Every investment comes with its risks, so it is recommended that readers do their own research before diving into any trading decisions.