Bitcoin Nears $100K as Trump Teases Trade Deal With the UK

Bitcoin Inches Closer to $100,000 as Trump Signals Major Trade Pact With UK

Bitcoin is rapidly approaching the historic $100,000 mark, spurred by renewed bullish sentiment across the market and the anticipation of a new trade deal between the United States and the United Kingdom, set to be unveiled by U.S. President Donald Trump.

In a May 7 post on Truth Social, Trump teased the announcement of a “major trade deal” with a “big, and highly respected, country,” which several sources later identified as the United Kingdom. According to individuals familiar with the matter, the agreement is expected to be revealed on May 8 and could represent the first in a series of international trade initiatives under Trump’s administration.

Bitcoin Surges Amid Geopolitical Tailwinds

At the time of Trump’s post, Bitcoin was trading around $97,759, and it has since climbed to $99,140, according to data from CoinMarketCap. This price surge reflects growing investor confidence as market sentiment shifts into bullish territory, especially among traders who believe the trade announcement could mark the beginning of a broader economic upswing.

Analysts and traders are pointing to the trade deal as a key catalyst for Bitcoin’s latest rally, with some speculating that the news is already being priced into the market. The timing of the rally is particularly striking given the broader consensus of bearish outlooks in recent weeks.

Analysts Say the Market Has Turned

Charlie Sherry, head of finance at Australian exchange BTC Markets, noted that sentiment was overwhelmingly negative just before the price rebounded.

“As everyone else was looking down and calling for lower, Bitcoin’s price did the opposite. Just when consensus leans heavily bearish, price bottoms form and new market structures start to emerge,” he said.

He added that while $100,000 could act as a psychological resistance level, Bitcoin appears poised to break through and potentially add another zero to its price chart in the near future.

Other crypto voices echoed this optimism. Neil Jacobs, co-founder of FOMO21, stated that Bitcoin’s upward momentum was being driven largely by Trump’s trade announcement, while entrepreneur Anthony Pompliano emphasized that such deals could increase the odds of new all-time highs in 2025.

Bitcoin is trading at $99,140 at the time of publication. Source: CoinMarketCap

Bitcoin’s Meteoric Climb Continues

Bitcoin’s current all-time high stands at $109,000, reached on January 20, just hours before Trump’s presidential inauguration. Since then, the asset has experienced significant volatility, but appears to be regaining strength as macroeconomic and geopolitical narratives shift in its favor.

Pandora CEO Sahib Anandsongvit remarked on the speed of Bitcoin’s rise, noting that the asset was trading near $80,000 just a few weeks ago, and reclaimed $90,000 on April 22—a testament to its rapid momentum.

Trump Trade Talk Follows Fed Decision on Interest Rates

Trump’s trade deal announcement comes shortly after the U.S. Federal Reserve opted to keep interest rates steady at 4.25% to 4.50%, despite mounting political pressure from Trump to lower them. The Fed cited concerns over persistent inflation and potential unemployment risks, though some market participants believe this cautious stance could further support Bitcoin as a hedge against monetary uncertainty.

Bitcoin last touched the $100,000 mark in early February, following Trump’s proposal to introduce new import tariffs on China, Canada, and Mexico. With a similar tone emerging in Trump’s latest move, market watchers are drawing parallels to that rally.

Traders Eye Bullish Continuation as Shorts Get Crushed

With Bitcoin’s price up roughly 3% in the past 24 hours, short sellers have suffered significant losses. Over $96 million in short positions have been liquidated, according to data from CoinGlass, as the market leans decisively bullish.

Meanwhile, the Crypto Fear & Greed Index has returned to “Greed” territory, clocking a score of 65, suggesting growing investor confidence and increased risk appetite as Bitcoin inches toward a new psychological and historical benchmark.

Conclusion: $100K Within Reach

Bitcoin’s rapid rally toward $100,000 highlights how powerful geopolitical developments—like Trump’s trade initiatives—can act as major catalysts in crypto markets. As bullish sentiment builds and institutional and retail investors pile in, the next few days could prove pivotal in determining whether Bitcoin shatters its previous high and charts a new course toward long-term price discovery.