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Home Cryptocurrency

Bitcoin breaks $100K again as US-UK trade deal fuels surge

Abimbola Samuel by Abimbola Samuel
May 9, 2025
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Bitcoin breaks $100K again as US-UK trade deal fuels surge

Bitcoin breaks $100K again as US-UK trade deal fuels surge

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On Thursday, investor confidence increased as Bitcoin surpassed the $100,000 mark for the first time since January, driven by positive macroeconomic signals and renewed institutional interest.

According to CoinGecko data, the world’s largest cryptocurrency climbed 4.2 percent from a daily low of $95,967. The latest rally marks the third time the digital currency has breached six figures. It first reached the milestone in December 2024 before retreating due to tariff concerns and global trade uncertainty.

Global market shift as Bitcoin dominance increases

The recent upward price follows a confirmation of a new US-UK trade deal, hailed by officials as a breakthrough agreement. The deal, announced by US President Donald Trump and UK Prime Minister Keir Starmer, reduces UK tariffs to 1.8 percent from 5.1 percent and sets a 10 percent tariff on UK imports into the US.

The leading cryptocurrency’s rise comes alongside a notable jump in market dominance, surpassing 60 percent levels not seen since early 2021, when BTC traded around $36,000.

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Petr Kozyakov, CEO of Mercuryo, says virtual currency’s increasing share of the total crypto market signals a possible downturn for altcoins.

“Bitcoin has been showing strength for weeks now, outstripping other digital tokens, and scarcely flinching against the sort of geopolitical events in Asia and the Middle East that may have impacted it in the past,” said Petr Kozyakov. “With gold also running good all year, there’s now a case for saying that Bitcoin may have proven itself as an economic hedge and a long-term store of value.”

Other contributing factors include falling bond yields, a weakening dollar, and renewed institutional inflows into spot Bitcoin exchange-traded funds. According to Kronos Research CIO Vincent Liu, “Bitcoin is hovering near $100,000, a key psychological level for traders, after Trump hinted at a major trade deal, likely with the UK.”

Liu also noted that the leading cryptocurrency ETFs recorded $1.8 billion in inflows over the past week, signaling robust institutional strength.

What will occur if Bitcoin’s price rises?

If Bitcoin’s price increases, it can affect the cryptocurrency market and the economy. Increased investor confidence typically boosts altcoins, sometimes leading to an alt season in which altcoins outperform the leading cryptocurrency.

Beyond crypto, its rise can drive adoption as a store of value or payment method, attract regulatory scrutiny, and correlate with traditional markets.

Tags: BitcoinU.S.UK
Abimbola Samuel

Abimbola Samuel

Experienced crypto writer with 2+ years of expertise. Skilled researcher and analyst delivering high-quality articles. Providing insightful perspectives on the latest crypto trends.

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