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Bitcoin surged to over $99,000 today after U.S. President Donald Trump hinted at a major new trade agreement with a “highly respected” nation..

In a Truth Social post on Wednesday, Trump described the deal as “the first of many”, noting that further details will be announced in an Oval Office news conference on Thursday morning.The deal is widely believed to involve the United Kingdom.

The announcement quickly rippled through financial markets, with crypto traders interpreting it as a signal of improved international cooperation and potentially lower trade tensions.

Bitcoin’s +2.5% rise in 24 hours brought the asset within striking distance of the critical $100,000 milestone.

The digital currency last hit an all-time high of $109,000 on January 20, shortly before Trump’s inauguration. Since then, its performance has been shaped by a mix of policy signals and macroeconomic trends.

Trade optimism further boosts crypto markets, already recovering from tariff-driven volatility

Market participants welcomed the announcement as a possible turning point for global trade conditions, which had deteriorated in recent months.

After the U.S. raised tariffs on Chinese goods in April, Bitcoin dropped sharply from over $88,000 to as low as $74,500. The recovery began shortly after, supported by ETF inflows, a weakening dollar, and easing fears around aggressive monetary policy.

Trump’s suggestion that this is the “first of many” global agreements has added momentum to an already strengthening crypto market.

Investors are watching closely for further details at the forthcoming press conference, which may clarify whether the deal involves tariff relief or broader economic cooperation.

Fed policy, investor sentiment, and technical levels align to support Bitcoin’s rally

Bitcoin’s rally is also being aided by favorable macro conditions. On May 7, the Federal Reserve chose to hold interest rates steady between 4.25% and 4.50%, citing resilient economic data and strong labor markets.

Fed Chair Jerome Powell acknowledged ongoing uncertainty linked to trade policy but emphasized the strength of the underlying economy.

Meanwhile, improving investor sentiment and consistent inflows into crypto-focused exchange-traded funds have supported Bitcoin’s rebound.

The asset’s current price level represents a key psychological threshold, and a successful break above $100,000 could trigger additional momentum in the near term.

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