Bitcoin reaches 101k dollars to get back six figures as Trump confirms us, UK trade agreement

Bitcoin (BTC) for the first time recovering the $100,000 mark in more than two months, which has renewed bull market sentiment, increased institutional adoption and macroeconomic confidence after President Donald Trump announced a massive trade deal with the UK on May 8th.

Bitcoin has extended the wider rally that has gained momentum in recent weeks, hitting a daytime high of $101,493. The flagship code has now risen more than 45% since the start of the year, regaining the ground after a sharp pullback to $74,000 in the first quarter.

Based on encrypted data, Bitcoin is trading at $100,633 at the time of press time, an increase of nearly 4% over the past 24 hours.

The broader crypto market is also rallying, with most of the top 10 digital assets recording double-digit percentage profits per day.

Ethereum (ETH) rose above $2,000 for the first time since falling there at the beginning of the year. The second-largest cipher has increased 13.3% over the last 24 hours and traded at $2,053 as of press time.

Solana (Sol) similarly rose over 10%, trading around $160 at press time, while BNB was trading at $621 after a modest profit of about 3.5% over the past day.

XRP has grown 6.4% in the past day and traded at $2.25, while Dogecoin (Doge) was trading above 10% and just over $0.19 as of press time.

Trade contracts alleviate tariff concerns

The announcement of a comprehensive US-UK trade agreement aimed at reducing tariffs and boosting financial cooperation has provided a new tailwind for already rising markets. Trump also hinted at future deals with the EU and other major economies.

Stocks, commodities and risk assets, including Crypto, saw a widespread increase as investors digested the news. Over the coming months, the easing macroeconomic landscape, coupled with expectations for the Fed’s easing monetary policy, has rekindled risk-on sentiment among investors.

Capital inflows into Bitcoin exchange products continue to accelerate. Data from ETF issuers shows that several US spot Bitcoin funds gathered more than $1.4 billion in new assets last week alone.

Institutional portfolios, including pension funds and donations, have increased exposure as they change expectations of inflation and ease the rhetoric of the Federal Reserve.

Stocks of companies related to the digital asset space also rose to the news. Coinbase exceeded 5.6% in early trading, but at press time the strategy rose by more than 7%.

Cautious optimism

Bitcoin’s new milestone follows a period of sideways consolidation, where it saw the wild shaking at price levels after reaching an all-time high of $110,000.

While momentum has arisen amid concerns over uncertainty among US regulators, recent comments from lawmakers have rekindled optimism across the sector as they signal support for a clearer market structure.

Despite enthusiasm, investors are cautious that Bitcoin’s six-figure threshold is just as psychological markers as technical ones. BTC must maintain itself above $102,000. This is currently the main resistance level.

Still, the milestone concludes an astonishing run for Bitcoin, which fell below $20,000 in the second half of 2022. The current rally is another showcase of how quickly sentiment changes in the digital asset market, and how deeply crypto is embedded in the global financial system.

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