Bitcoin Surges Towards $100K on UK-US Trade Deal Speculation

The cryptocurrency market is buzzing with excitement as Bitcoin (BTC) closes in on the coveted $100,000 mark. This surge is fueled by speculation surrounding a potential major trade agreement between the US and the UK, set to be announced by former President Donald Trump.

Trump’s announcement on Truth Social of an impending “major trade deal” with a “big, and highly respected, country” immediately sparked a rally. The New York Times identified the UK as the likely partner, citing unnamed sources.

Bitcoin’s Ascent Towards Six Figures

At the time of Trump’s post, Bitcoin was trading near $97,759. Following the news, it swiftly climbed, nearing the psychological $100,000 barrier, reaching $99,140 at the time of writing (Source: CoinMarketCap).

Many in the crypto community attribute this Bitcoin price surge to the anticipation surrounding the trade deal. Prominent figures like Neil Jacobs (FOMO21 co-founder) and Anthony Pompliano have voiced their opinions, linking the Bitcoin rally to Trump’s announcement and forecasting new all-time highs for 2025.

Interestingly, Bitcoin last traded at $80,000 on April 11th, highlighting the rapid price appreciation. The previous all-time high of $109,000 was recorded in January 2025.

Noteworthy: Trump’s announcement followed the Federal Reserve’s decision to maintain interest rates, defying Trump’s calls for a reduction.

The recent increase has also resulted in significant liquidations of short positions, further indicating a shift in market sentiment. CoinGlass data shows approximately $96 million in liquidated short positions.

Disclaimer: This article does not provide financial advice. All investment decisions involve risk; conduct thorough research before investing.