Bitcoin Nears $100K as Trump Hints at Major UK Trade Deal

Bitcoin surged closer to the $100k mark after U.S. President Donald Trump revealed that a major trade deal was in the works with the United Kingdom. In a post shared on Truth Social on May 7, President Trump revealed he plans to announce a “major trade deal” with a “big, and highly respected country.” According to The New York Times, a deal is being negotiated with the UK and is expected to be formally revealed today.

This news has already added positive momentum in the crypto markets, while driving the Bitcoin price to $99K at the time of reporting. Crypto enthusiasts and market analysts have attributed the rally to the growing speculation around the impending deal. Charlie Sherry, Head of Finance of Australian crypto exchange BTC Markets, commented on the shift, “As everyone else was looking down and calling for lower, Bitcoin’s price did the opposite.”

She also added, “While we may see psychological resistance at the $100K mark, it seems inevitable Bitcoin puts another zero on the board.”

Prominent crypto investor Anthony Pompliano and Neil Jacobs, co-founder of FOMO21, both share the same view that the announcement by Trump is the primary catalyst for the Bitcoin price jump. Pompliano added that the trade deal increases the likelihood of Bitcoin reaching new all-time highs in 2025.

Bitcoin On Track to Reach $100K

Right before Trump’s inauguration, Bitcoin reached an all-time high of $109K on January 20. Since then, the premier cryptocurrency has seen lows and steady highs. BTC rose from $80K to $90K between April 11 and April 22.

The timing of the post by Trump coincides with the U.S. Federal Reserve's decision to maintain interest rates between 4.25% and 4.50%. The news came despite pressure from Trump to lower them. The combination of economic uncertainty and political developments appears to be fueling bullish sentiment. Meanwhile, the broader crypto market shows signs of investor enthusiasm. The Crypto Fear & Greed Index currently reads 65, indicating “Greed.” In the past 24 hours, Bitcoin’s 3% increase has liquidated approximately $96 million in short positions, according to CoinGlass. As Bitcoin teeters on the edge of $100k, all eyes remain on the official announcement and its potential market impact.