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Bitcoin surged past $100,000 for the first time since early February, following a significant trade agreement between the United States and the United Kingdom. On Thursday, Bitcoin reached a price of $101,329.97, marking a 4.7% increase for the day. While it remains below its record peak of $109,000 from January, the cryptocurrency has returned to positive territory for the year.
The trade deal, negotiated between US President Donald Trump and UK Prime Minister Keir Starmer, allows the US to maintain a 10% tariff on UK imports. In return, the UK has reduced its tariffs on U.S. goods from 5.1% to 1.8%. This development suggests that CEOs are anticipating a reduction in global trade tensions, which have contributed to market volatility.
Analysts attribute this rebound to increased investor confidence and a renewed risk appetite. Antoni Trenchev, founder of Nexo, supported this view, noting that long-term holders drove the recovery despite recent selling by short-term ones. He said Bitcoin could soon test its all-time high if the current momentum continues.
Ether, the Ethereum blockchain token, also shot up significantly, rising more than 14% to $2,050.46, its highest since March. However, it is still too low compared to the late 2024 levels, indicating that altcoin recovery remains close to Bitcoin.
According to Joel Kruger, strategist at LMAX Group, the increase was attributable to institutional influx into Bitcoin ETFs, reduced political turmoil, and China's monetary policy to stimulate the economy. These factors have contributed to stabilizing market sentiment and pumping investments into Bitcoin.
Bitcoin prices dropped from February to April because the Trump administration was slow in implementing pro-crypto policies, and the market was concerned about the new tariffs. The sharp fall made most investors pull out of risk assets, such as crypto.
The silver lining is a brighter trade horizon and active institutional intervention to help Bitcoin regain its legs. As other cryptocurrencies still hover below their peaks, Bitcoin's performance indicates possible changes in the crypto market's overall trend. However, if current conditions remain, Bitcoin may continue upwards and test past highs with looming better macroeconomic signs and heated investor interest.
Meanwhile, sharing his thoughts on the current scenario, Bader Al Kalooti, MENASAT Head of Growth & Ops, Binance, explained that with Bitcoin again crossing the $100,000 mark, the highest level since February, it comes at a pivotal moment for global markets.
“After briefly touching the $100K milestone earlier this year and witnessing a subsequent price dip, the current resurgence in price reflects growing investor confidence in the long-term fundamentals of crypto. This recovery is taking place amid positive sentiments in the crypto space, such as discussions around a Strategic Crypto Reserve and the evolving stance on digital assets emerging from the White House Crypto Summit,” he shared.
Bader Al Kalooti further says, “Geopolitical developments are further reinforcing crypto’s role as a significant store of value. Notably, in India, the sentiment toward digital assets is undergoing a marked transformation. There is a visible shift from skepticism to strategic exploration. Discussions are becoming more structured, and institutional interest continues to deepen. This is catalyzed by India’s growing digital economy, a tech-savvy population, and increasing recognition of blockchain's potential across sectors—from finance to logistics.”
Additionally, geopolitical developments are reinforcing crypto’s role as a significant store of value. Bader Al Kalooti says that at Binance, they believe these macro trends are accelerating mainstream acceptance of crypto, and Bitcoin’s performance today reaffirms its standing as a resilient and maturing asset class.
