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Bitcoin surged on Thursday, climbing toward the key psychological level of $100,000, as investor sentiment was buoyed by renewed hopes of a de-escalation in U.S. trade tensions. The gains followed comments from President Donald Trump that he would announce a “major” trade deal, stoking optimism that the administration’s tariff agenda may be easing.
The world’s largest cryptocurrency jumped 2.6% to $98,868.60 by 01:28 ET (05:28 GMT), having briefly touched $99,381.20 earlier in the session.
Trade Optimism Drives Market Momentum
Bitcoin’s rally came amid a broader improvement in risk sentiment across global markets. President Trump’s remarks on an imminent trade agreement fueled speculation that Washington may be shifting toward more constructive economic diplomacy. While a report from The New York Times indicated the deal would be with the United Kingdom—a nation not subject to the White House’s recent tariff escalations—investors took the announcement as a sign of potential broader trade normalization.
Trump referred to the UK deal as the “first of many,” raising hopes that negotiations with other key economies, including Japan and the European Union, could follow. This raised optimism that some of the global economic drag from recent trade disputes might begin to ease.
U.S. and Chinese officials are also slated to hold discussions later this week. However, analysts remain skeptical of any imminent breakthrough, as both Washington and Beijing have maintained firm rhetoric amid their ongoing trade war.
Risk Appetite Returns to Crypto
Bitcoin’s gains were supported by a broader rebound in speculative assets, as investors looked past concerns raised by the Federal Reserve on Wednesday about the U.S. economy. While the central bank left interest rates unchanged, it warned of continued uncertainty stemming from tariff-related disruptions.
Despite crypto’s limited direct exposure to global trade mechanics, shifts in market sentiment significantly impact the asset class, which remains dominated by speculative flows. The latest surge helped Bitcoin erase prior year-to-date losses, with markets now closely watching whether it can reclaim the $100,000 threshold—a level last seen about three months ago.
The upward move was also fueled by continued institutional inflows into spot Bitcoin ETFs, reflecting growing appetite among large investors.
Altcoins Track Bitcoin Higher
The positive tone extended to the broader cryptocurrency market. Ethereum (ETH), the second-largest digital asset, rose 3.7% to $1,896.91. XRP climbed 2.1% to $2.1769.
Solana (SOL) and Cardano (ADA) each advanced over 3%, while Polygon (MATIC) gained 4.3%.
Among meme tokens, Dogecoin (DOGE) added 4.8%, while the politically-themed $TRUMP token soared 10%, extending its recent run amid speculative interest.
As attention remains fixed on whether Bitcoin can break above the $100,000 mark, market watchers say further signs of easing geopolitical tensions or dovish economic policy could fuel the next leg of the rally.
