On Thursday, Bitcoin surged past the key $100,000 level for the first time since February, closing in on $101,679.85, according to Coin Metrics. The rally was sparked by President Donald Trump’s announcement of a new trade agreement between the U.S. and the United Kingdom.
The cryptocurrency began rising overnight as Trump hinted at the deal, then continued climbing after the official details were released Thursday morning. The broader financial market also rallied, with the Dow Jones Industrial Average jumping over 500 points. Shares of Coinbase gained more than 5%, while other cryptocurrencies followed suit.
Ethereum rose by 18%, Solana-linked tokens by 10%, and Dogecoin jumped 12%. While many altcoins have lagged behind Bitcoin in 2025, they responded positively to the trade-driven market sentiment.
Since Trump announced new tariff measures in early April, Bitcoin has gained over 17%. In comparison, gold has risen just over 5%, while the S&P 500 has fallen slightly. These movements highlight Bitcoin’s increasing status as a hedge during uncertain times.
Investors also appear encouraged by the current administration’s pro-crypto stance, particularly its support for spot Bitcoin ETFs, which continues to draw institutional money into the space.
However, Bitcoin still has room to grow before reclaiming its yearly high of around $109,350 set in January. There’s speculation that Bitcoin may remain within a range of $70,000 to $109,000 for the next couple of months amid lingering uncertainty following the election.
Still, the return to six-figure pricing is considered a major psychological and technical milestone. Just a month ago, Bitcoin was trading around $74,000, and its recent resurgence is seen as a powerful rebound.
Geopolitical tensions remain a key factor. Escalating friction between India and Pakistan poses new risks, while the Federal Reserve continues to balance concerns about inflation and unemployment, with no rush to cut rates.
With global risks and central bank caution dominating the narrative, Bitcoin may face volatility in the weeks ahead. Yet, the current rally has restored confidence among long-term believers in the cryptocurrency’s resilience and potential.
