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Bitcoin approached the $100,000 threshold on Wednesday after teasing a big international trade deal by US President Donald Trump. The agreement, as reported by The New York Times, will be with the United Kingdom and is to be formally announced at the White House on Thursday.
The cryptocurrency was at $99,200 as of publication, having risen from $97,100 when Trump initially posted about the deal on his Truth Social page. The post, published on May 7, stated that a “big trade deal” with a “highly respected” nation would be announced on May 8. Sources familiar with the situation indicated to The New York Times that the deal is with the UK.
Speculation Linked To Bitcoin’s Rise
Some Bitcoin observers think the trade deal has helped drive prices higher. FOMO21 co-founder Neil Jacobs wrote on X that Trump’s message was probably the main reason Bitcoin began rising.
????BITCOIN PUMPING, WHY???
TRUMP: BIG NEWS CONFERENCE TOMORROW 10AM EST IN OVAL, MAJOR TRADE DEAL WITH A BIG & HIGHLY RESPECTED COUNTRY pic.twitter.com/QjHM95kXrE
— Neil Jacobs (@NeilJacobs) May 8, 2025
Bitcoin reached its latest high of $109,000 on January 20. That was only hours after Trump was inaugurated for his second term. Now, traders are holding their breath to see if this new wave of optimism will propel the coin to new highs.
Market Sentiment Turns Greedy
The mood in the crypto market has changed. According to statistics from the Crypto & Fear Index, the sentiment is now “Greed” with a reading of 65. That indicates that most investors are optimistic and ready to take higher risks.
Source: Alernative.me
Meanwhile, Bitcoin’s recent 3% increase has caused approximately $96 million worth of short positions to be liquidated, as reported by CoinGlass. Short liquidations occur when bettors against Bitcoin are compelled to close their wagers because of price increases.
Rates Remain Flat As Trump Resists
Trump’s tweet saw print just a few hours after the US Federal Reserve chose to maintain interest rates as they were. The prevailing rate range is between 4.25% and 4.50%. Trump had been pushing the Fed to reduce rates, but the central bank made no move.
As the Fed held firm, Bitcoin continued rising. That might be an indicator that investors are giving more credibility to trade reports and international politics than central bank policy—at least in the meantime.
BTC Action Tracks Tariff Tensions
All the way back on February 1, Bitcoin topped $100,000 following Trump’s statement of new import tariffs on nations such as China, Canada, and Mexico. That was the last time that BTC was above six figures.
Meanwhile, Bitcoin’s trajectory is still uncertain. But as political news gets hotter, investors are keeping close tabs of the news—and paying attention to the chart.
Featured image from Gemini Imagen, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes
only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any
investments and naturally investing carries risks. You are advised to conduct your own
research before making any investment decisions. Use information provided on this website
entirely at your own risk.
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