Here Is Why Bitcoin Is Rising Today

The crypto community was stirred earlier today as Bitcoin powered past the $99,000 mark, mainly in response to recent diplomatic and economic signals from Washington and beyond. Traders and investors are now watching closely as market forces align to support what many believe could be the start of a new bullish phase.

Bitcoin is trading at $99,569.21, recording a 2.18% gain in the last 24 hours. This upswing is attributed to improving global risk sentiment after key political and economic events.

President Donald Trump announced a new trade deal with the United Kingdom, a “highly respected” country, sources confirm. The announcement led to optimism, indicating a retreat from international trade tensions that have bugged markets globally in the last few years.

Meanwhile, Treasury Secretary Scott Bessent was meeting with Chinese officials in Switzerland and making it clear that current tariffs were not sustainable. His words signaled potential tariff cuts and a gentler attitude to trade, which lifted the financial markets again.

Also Read: Michael Saylor Reveals How He Gained 4.3M Followers Promoting Bitcoin on X

Rate Hold and Institutional Optimism Bolster Bitcoin’s Climb

The Federal Reserve’s decision to maintain interest rates between 4.25% and 4.50% further contributed to Bitcoin’s momentum. Although President Trump urged the Fed to cut rates, Chair Jerome Powell defended the stance, citing ongoing inflation concerns and stagnant growth.

After the announcement, bitcoin fell below $97,000 but soon returned. The spike recovery suggested the increasing status of Bitcoin as a hedge in rough economic climatic conditions.

Market confidence has also been crucial, with institutional projections such as Standard Chartered expecting Bitcoin to reach $120,000 by mid-year and $200,000 by 2025. VanEck predicts $180,000 will be reached during the current cycle, while ARK Invest predicts a long-term figure of $1.2 mil by 2030.

The overall market capitalization of the global crypto market in the past 24 hours stood at $3.09 trillion, an increase of 2.5%. This increase indicates a high demand for digital assets in the face of changing macroeconomic narratives.

Conclusion

Bitcoin’s push to $99,569.21 has been driven by diplomatic breakthroughs, stable monetary policy, and growing institutional belief in its long-term value. These factors fuel strong market momentum as investors position for further upside.

Also Read: 300,000,000 XRP to Unknown Address? Here’s What Happened

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