Bitcoin Surges Beyond $100K on Surprising UK Trade Pact
Bitcoin blasted past the $100,000 mark on Thursday, triggered by former President Donald Trump’s announcement of a sweeping new UK trade agreement. The rally sent shockwaves through the crypto market, with Ethereum and several altcoins following suit. Yet the deal’s opacity has left traders both exhilarated and anxious.
Trump’s Bold Trade Proclamation Sparks Market Frenzy
At a press conference, Trump declared, “This is a maxed-out deal that we’re going to make bigger and we make it bigger through growth, but we have tremendous assets involved.”
When British ambassador Peter Mandelson called the agreement “only a starting point,” Trump countered with typical bravado: “There’ll be changes made, there’ll be adjustments made because we’re flexible—but it’s very conclusive, and we think everyone’s going to be happy.”
Analysts Warn: Low Volume Could Mean High Volatility
While optimism has flooded the market, analysts are cautioning that the rally’s low-volume nature may herald a swift correction. “This could be a short-term overreaction,” warned Nic Puckrin. “The market is reacting more to trade rhetoric than to monetary policy.”
Puckrin emphasized that investor sentiment is more sensitive to tariffs than to interest rate decisions: “Trump has just thrown risk assets a big lifeline.”
Institutional Momentum Builds Despite Caution
Despite potential short-term pullbacks, underlying indicators remain bullish. Spot Bitcoin ETFs are seeing strong inflows, and institutional appetite continues to grow.
Charles Wayn, co-founder of Web3 platform Galxe, added, “The announcement of U.S. tariff concessions for the UK—and potentially the UAE—is great news for the crypto space. It could signal the revival of the bull market and reignite altseason.”
Trade Uncertainty Fades—At Least for Now
Wayn views the agreement as a potential first step in a broader wave of economic liberalization. “With more deals and concessions will come more certainty and better market conditions.”
What Comes Next: Breakout or Blowback?
The mood across crypto markets has palpably shifted, with bullish sentiment temporarily outweighing caution. However, with volatility lurking and key details yet unrevealed, the euphoria could prove fleeting.
As always in crypto, markets will be watching every move.
More Stories
Trump-Linked USD1 Stablecoin Powers $2B Abu Dhabi Investment in Binance