Bitcoin Surges Toward $100K Ahead of Trump’s UK Trade Agreement RevealBitcoin (BTC) is closing in on the key psychological milestone of $100,000, fueled by rising optimism over a pending trade deal between the United States and the United Kingdom, expected to be unveiled by President Donald Trump on May 8.In a May 7 post on Truth Social, Trump hinted at a “major trade deal” with a “big, and highly respected country.” Multiple sources, including The New York Times, confirmed the country is the United Kingdom.Bitcoin Price Approaches New High on Geopolitical OptimismFollowing Trump’s statement, Bitcoin rose from $97,759 to $99,140, according to CoinMarketCap data — just shy of its all-time high of $109,000 recorded on January 20, the day of Trump’s inauguration.At the time of writing, BTC is trading at $98,878, up 3% in 24 hours, with bullish sentiment building across the crypto market.Charlie Sherry, head of finance at Australian exchange BTC Markets, told Cointelegraph the move reflects a classic reversal pattern:“As is often the case in markets, just when consensus leans heavily bearish, price bottoms form and new market structures start to emerge.”He added that $100,000 could act as a psychological resistance, but momentum appears strong enough to surpass it.Analysts Say Trade Deal Speculation Is Driving Price ActionSeveral market commentators attributed the sudden price acceleration to anticipation around Trump’s trade policy, suggesting that institutional and retail buyers may already be pricing in the announcement.Neil Jacobs, co-founder of FOMO21, said the rally was primarily driven by Trump’s trade deal tease.Anthony Pompliano, a well-known crypto investor, noted that such deals increase the odds of BTC hitting new highs in 2025.Sahib Anandsongvit, CEO of Pandora, reminded followers that BTC was only $80,000 a few weeks ago, highlighting the asset's sharp upward trajectory since mid-April.Federal Reserve Decision Adds to MomentumTrump’s trade post came just hours after the Federal Reserve held interest rates steady at 4.25%–4.50%, despite pressure from the Trump administration to begin cutting rates.Historically, rate stability combined with geopolitical optimism has boosted Bitcoin’s appeal as a hedge against fiat debasement and global uncertainty.Adding to the momentum:The Crypto Fear & Greed Index climbed to 65 (“Greed”), signaling improving sentiment.Over $96 million in Bitcoin short positions were liquidated in the past 24 hours, according to CoinGlass.Outlook: Is $100K Just the Beginning?Bitcoin has not breached $100,000 since February 1, when markets responded to Trump’s earlier proposal for sweeping import tariffs. Analysts believe a confirmed trade agreement with the UK could act as a catalyst for BTC to break resistance and target $109,000 or higher.With institutional interest climbing and ETF inflows steady, Bitcoin may be on the verge of entering a fresh price discovery phase — especially if macro conditions align in the coming weeks, according to Cointelegraph.
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