The world’s largest cryptocurrency climbed 5.3% over the past 24 hours to reach $101,293, according to data from CoinDesk. The rally marked a significant milestone for Bitcoin, which had not breached the $100,000 threshold since February.
Analysts pointed to improving geopolitical sentiment as a key driver behind the surge. “Now that the United States appears more reasonable and concludes agreements with other countries, cryptocurrencies are on the rise again,” said Stephane Ifrah, an analyst at crypto platform Coinhouse.
The breakthrough came after President Donald Trump unveiled what he described as a “full and comprehensive” trade agreement with the UK—marking the first major trade deal since his Liberation Day tariff announcement in April, which introduced sweeping reciprocal tariffs on several U.S. trading partners.
While details of the pact remain limited, Commerce Secretary Howard Lutnick stated the agreement would boost British imports of US goods, particularly in agriculture, including ethanol, beef, and industrial machinery. Trump confirmed the deal on Truth Social, adding that several more agreements were in “serious stages of negotiation.”
The announcement helped buoy not only cryptocurrencies but also global stock markets, as investors welcomed a sign of de-escalation in recent trade tensions.
Cryptocurrencies, often viewed as high-risk assets, typically mirror broader market sentiment. They tend to perform well in times of economic clarity and drop during uncertainty or macroeconomic stress. Bitcoin’s latest rally reflects a shift in investor mood, following the Federal Reserve’s decision on Wednesday to keep interest rates steady amid what Chair Jerome Powell described as “extremely elevated” uncertainty.
With the trade deal offering a glimmer of stability, the crypto market appears to have regained its footing. However, it remains to be seen whether Bitcoin’s momentum can be sustained in the weeks ahead.