Bitcoin is on the verge of hitting a historic $100,000 milestone—again. This renewed momentum comes as former U.S. President Donald Trump hints at a major trade deal with the United Kingdom, fueling speculation and driving the price up. In typical crypto fashion, just when sentiment leaned bearish, Bitcoin flipped the script.
Trump’s UK Trade Deal Sparks Market Optimism
On May 7, Trump took to Truth Social, claiming a “major trade deal” with a “big, and highly respected, country” would be announced the next day. The New York Times quickly followed up, citing anonymous sources confirming the deal would involve the UK.
This political development had an immediate ripple effect. When Trump posted, Bitcoin was trading at $97,759, according to CoinMarketCap. Within hours, it crept up to $99,140, inching ever closer to the psychological barrier of $100,000.
Bullish Sentiment Builds Across the Crypto Space
While some analysts had forecast a decline, the opposite unfolded. According to Charlie Sherry, head of finance at Australian crypto exchange BTC Markets, many expected lower prices—but Bitcoin defied expectations. “When consensus leans heavily bearish, price bottoms form and new market structures start to emerge,” said Sherry. In his view, the market may already be pricing in the impact of the upcoming trade agreement.
Neil Jacobs, co-founder of FOMO21, agreed, pointing to Trump’s announcement as the key driver behind Bitcoin’s surge. Crypto entrepreneur Anthony Pompliano added that the deal boosts the odds of a new all-time high in 2025.
And it’s not just hype—Bitcoin’s current rally is backed by numbers. Pandora CEO Sahib Anandsongvit reflected on the rapid growth, noting that Bitcoin was trading at $80,000 just weeks ago, back on April 11. It regained the $90,000 level on April 22, and the recent upswing pushed it firmly toward $100K.
Market Stats and Key Indicators
Trump’s post came mere hours after the U.S. Federal Reserve announced it would hold interest rates steady at 4.25% to 4.50%, despite Trump’s pressure to lower them. This decision added fuel to the fire, giving Bitcoin more room to climb.
Below is a quick snapshot of Bitcoin’s recent price movement and related market data:
| Date | BTC Price | Key Event |
|---|---|---|
| April 11 | $80,000 | Local low before recent surge |
| April 22 | $90,000 | Price recovers above psychological threshold |
| May 7 | $97,759 | Trump teases trade deal |
| May 8 (current) | $99,140 | Price nears $100,000 |
Meanwhile, the Crypto Fear & Greed Index shows a score of 65, firmly placing the market in the “Greed” zone. This suggests that traders are increasingly optimistic, possibly even experiencing a bit of FOMO.
Is $100K a Ceiling or Just Another Step?
Bitcoin hasn’t touched the $100K mark since February 1, when Trump floated the idea of import tariffs on China, Canada, and Mexico. That proposal pushed markets into a frenzy, and now, another policy shift appears to be doing the same.
The current 24-hour price jump of 3% has already resulted in roughly $96 million in short positions being liquidated, based on CoinGlass data. That’s a sharp warning to bears: underestimate Bitcoin at your own risk.
For long-term holders and market watchers alike, this rally feels familiar—but it’s unfolding against a new political backdrop. With a potential international trade agreement in the works and interest rates frozen, the market seems primed for another leg up.