Bitcoiners count on Bitcoin to quickly break previous $100,000 and doubtlessly hit a brand new all-time excessive as US President Donald Trump is about to announce a commerce cope with the UK.
Trump said in a Could 7 Fact Social publish {that a} “main commerce deal” with a “huge, and extremely revered, nation” can be introduced on Could 8, which The New York Occasions reported can be the UK, citing three folks conversant in the plans.
Bitcoin inches towards $100,000
When Trump revealed his publish, Bitcoin (BTC) was buying and selling at round $97,759 and has since crept up nearer to the psychological $100,000 value degree to commerce at $99,140 on the time of publication, according to CoinMarketCap knowledge.
A number of Bitcoiners are crediting the rally towards $100,000 to hypothesis surrounding the commerce deal.
FOMO21 co-founder Neil Jacobs said on X that the Bitcoin rally was primarily on account of Trump’s announcement.
Crypto entrepreneur Anthony Pompliano said the incoming commerce deal “means odds are rising we hit new all-time highs in 2025.”
Bitcoin reached its present all-time excessive of $109,000 on Jan. 20, simply hours earlier than Trump’s inauguration.
Pandora CEO Sahib Anandsongvit said that he “can’t cease to assume” how Bitcoin was $80,000 only some weeks in the past earlier than declaring Bitcoin’s $98,000 value on the time of the publish and reiterating Trump’s looming commerce deal. Bitcoin final traded on the $80,000 value degree on April 11 and solely reclaimed $90,000 on April 22.
Associated: Bitcoin returns to $98K as Fed holds rates steady despite Trump’s demand
Trump’s publish got here simply hours after the US Federal Reserve introduced that it might maintain rates of interest at 4.25% to 4.50% despite mounting pressure from Trump to decrease rates of interest.
Bitcoin has not hit $100,000 since Feb. 1 after Trump proposed import tariffs on China, Canada and Mexico. In the meantime, crypto market contributors seem like extra bullish on the general market, with the Crypto & Concern Index studying a “Greed” rating of 65.
Bitcoin’s 3% improve over the previous 24 hours has led to roughly $96 million in brief positions liquidated, according to CoinGlass knowledge.
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