Bitcoin Surges Toward $100K as Trump Prepares to Unveil UK Trade Agreement

Sentiment is growing more positive among Bitcoin supporters as former U.S. President Donald Trump prepares to announce a new trade deal with the United Kingdom. This major development is generating buzz across social media and cryptocurrency news outlets, as many believe it could push Bitcoin to a new all-time high.

Bitcoiners are now expecting the digital asset to finally break past the $100,000 mark. Trump stated on May 7 via Truth Social that he would soon reveal a “major trade deal” with a “big, and highly respected, country.” According to The New York Times, that country is the UK, based on reports from three unnamed sources familiar with the matter.

Bitcoin Inches Closer to $100K

When Trump posted his announcement, Bitcoin was trading at around $97,759. Shortly after, it rose to $99,140, just shy of the psychological $100,000 barrier, according to CoinMarketCap.


source: coinmarketcap

Many in the crypto space believe this price increase is directly tied to speculation about Trump’s trade deal. Bitcoiners on social media are excited, with several pointing to this announcement as a major catalyst for the recent rally.

Experts and Influencers React

Neil Jacobs, co-founder of FOMO21, shared on X (formerly Twitter) that the main driver behind Bitcoin’s rally is Trump’s post about the upcoming trade deal.

Crypto investor and podcast host Anthony Pompliano also weighed in, saying the deal could increase the chances of Bitcoin hitting new all-time highs in 2025.

Pandora CEO Sahib Anandsongvit noted that Bitcoin was only $80,000 a few weeks ago and said it's incredible to see it nearing $100,000 again, especially with Trump’s announcement adding to the excitement. Bitcoin last traded at $80,000 on April 11 and returned to the $90,000 range by April 22.

A History of Highs and Market Moves

Bitcoin’s current all-time high stands at $109,000, which it reached on January 20—just hours before Trump’s inauguration. This historical context makes the current price movement even more significant to market watchers.

Interestingly, Trump’s post came just hours after the U.S. Federal Reserve confirmed it would hold interest rates between 4.25% and 4.50%. Trump has been pressuring the Fed to lower rates, hoping to stimulate the economy ahead of the upcoming election.

The last time Bitcoin reached $100,000 was on February 1. This followed Trump’s earlier proposal to place import tariffs on countries including China, Canada, and Mexico.

Crypto Market Turns More Bullish

The broader crypto market is also showing signs of strength. The Crypto Fear & Greed Index, a popular tool used to measure market sentiment, currently sits at a “Greed” score of 65. This suggests that investors are feeling confident about the future of cryptocurrencies.

In the last 24 hours, Bitcoin has gained about 3%, which led to the liquidation of roughly $96 million in short positions, based on data from CoinGlass. This kind of price action shows how quickly the market can shift and how powerful investor sentiment can be.

Summary

As Donald Trump prepares to announce what he’s calling the “first of many” trade deals—starting with the United Kingdom—Bitcoin is once again climbing toward $100,000. With market excitement building and crypto investors growing more confident, this is shaping up to be one of the biggest stories in cryptocurrency news this year.

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