Bitcoin Surges Toward $100K on Hopes of Trump’s Trade Deal Breakthrough

3h ago•

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According to Decrypt’s recent report, on Thursday, May 8, 2025, Bitcoin price moved closer to $100,000 after former president Donald Trump hinted at a big trade deal with an important country. He plans to make the announcement about this at a press conference at 10 am ET.

Based on BBC News, this trade deal will take place between the UK and the US. It will focus on reducing tariffs and giving attention to strengthening economic ties.

Market confidence has increased due to this announcement, and investors in the crypto market are excited because of this news, as it has helped in the BTC price rise.

Bitcoin Price Soars on Trade Optimism

On Thursday morning, the Bitcoin price quickly went over $99,000; it has reached its highest point since February.

Within just 24 hours, it went up by 5%. Some traders believe that Trump’s economic plans could help support risky assets like Bitcoin.

This rise in BTC price came due to rising interest from big investors in Big investors in spot Bitcoin ETFs; the U.S. dollar became weaker because of the lower bond yields.

By mid-morning, the price had dropped a little to $94,000, but according to CoinGecko data shared by Decrypt, it was still 2.6% higher for the day.

Bitcoin’s current market price scenario as on May 8, 2025

Metrics	Price
Current Price	$99,319.36
24-hour Trading Volume	$51.65B
BTC Price Prediction	$100,000
All-Time High (Jan 20, 2025)	$109,114.88
Resistance Level	$99,000 – $100,000

Trade Deal Speculation Points to the UK

Even though Trump has not revealed which country is part of the deal, several reports, including one from the New York Times, say that it’s most likely the United Kingdom.

For a long time, the U.K. has asked the U.S. to lower tariffs, particularly a 10% general tariff and a 25% tax which are on things like steel, aluminium, and cars.

According to Policy leaks, which were shared on Reddit’s r/CryptoCurrency, the U.K. might agree to lower their digital services tax and cut tariffs on the farm products of the U.S. in exchange for some economic relief.

If this deal gets confirmed, it could help to lower inflation and encourage people to invest in riskier assets, which is one of the likely reasons for the Bitcoin price to rise.

Bitcoin Price at a Crossroads

Overall, the economy is showing positive signs. Fed Chair Jerome Powell said the economy is still in a good position, despite some uncertainty.

This has boosted U.S. stock markets; both the S&P 500 and Dow are rising by less than 1%.The COO of RedStone, Margin Kazmierczak, explained more about Bitcoin’s behaviour in the market.

He said that Bitcoin price does not always move in the same way as the S&P 500. He said that Bitcoin helps to spread out risk, but it’s not always a safe way to protect against the big market changes.

Conclusion

The Bitcoin price is getting close to its all-time high; this growth is driven by political speculations, changes in the economy, and the strong support of big investors. The crypto market is watching closely as Trump is getting ready to announce the details about the trade deal. If the deal is favourable, then it might push the Bitcoin price over the $100,000 level, which was once seen as out of reach but now seems possible.