Bitcoin Surges 4% to $102,901 on US-UK Trade Deal

Bitcoin (BTC) experienced a significant rally on Thursday, surpassing the $100,000 mark. This surge was driven by the announcement of a comprehensive trade deal between the US and the UK, which greatly improved investor sentiment. BTC's price increased by nearly 4% over the past 24 hours, trading around $102,901 as buyers aimed to build momentum and push towards $105,000.

Bitcoin has stabilized around $103,000 after surging past $100,000 on Thursday. This rally shattered key resistance levels and reached an intraday high of $103,963. The surge can be attributed to two major developments: the US-UK trade deal and trade talks with China. The trade deal signaled a potential de-escalation of global trade tensions, greatly improving market sentiment and investor risk appetite. Additionally, Treasury Secretary Scott Bessent’s visit to Switzerland to meet officials from the Chinese Ministry of Commerce also buoyed investor sentiment. BTC’s latest rally also led to significant losses for bearish traders who bet against Bitcoin, with over $118 million in short positions liquidated over the past 24 hours.

Bitcoin’s surge came as trade uncertainty cooled after the US-UK trade deal, easing tariff tensions that have weighed on crypto since President Trump’s inauguration. Risk assets like Bitcoin were big winners, with the flagship cryptocurrency rising nearly 8% over the week. The trade deal leaves in place a 10% tariff on goods imported from the UK, while the UK agreed to lower tariffs from 5.1% to 1.8% while providing greater access to US goods. The Trump administration has been under increasing pressure from investors to conclude negotiations and sign trade deals.

US Commerce Secretary Howard Lutnick believes that after the US-UK trade deal, more big economies will sign deals with the US soon. Meanwhile, the US and China are expected to begin trade talks as they attempt to de-escalate the trade war between the world’s biggest economies. The talks are scheduled to take place in Switzerland with Chinese Vice Premier He Lifeng. US Treasury Secretary Scott Bessent and Jamieson Greer will lead discussions.

Spot Bitcoin ETFs recorded a fourth straight week of weekly inflows as institutional demand for the asset strengthened. According to data from SoSoValue, spot Bitcoin ETFs registered nearly $600 million in total inflows as of Thursday, continuing its four-week inflow streak since mid-April. Corporates also continued accumulating Bitcoin, with Strategy announcing the purchase of 1,895 BTC for $180.30 million. The latest acquisition takes the company’s holdings to 555,450 BTC. The acquisition comes after the company published its Q1 earnings and revealed a new $21 billion at-the-market offering to fund further Bitcoin acquisitions. Semler Scientific also added to its holdings by completing the acquisition of 167 BTC, taking the company’s holdings to 3,634 BTC. Growing demand among institutional investors and corporates is a positive sign for Bitcoin, highlighting its growing acceptance and importance as a strategic asset.

Bitcoin (BTC) surged past $100,000 after a stunning rally on Thursday and raced to an intraday high of $103,963 as bullish sentiment returned after the US-UK trade deal. The flagship cryptocurrency returned to $100,000 for the first time since February, with Bitcoin bulls eyeing a move past $105,000 and a potential retest of $109,000. Antony Trenchev, co-founder of the crypto exchange Nexo, stated, “Bitcoin has not only reclaimed $100,000 for the first time in three months, but it’s also reaffirmed its status as the ultimate bouncebackability asset as the prospects for U.S. trade deals brighten.” The recent market uncertainty has been viewed as a positive sign for BTC among some investors. President Trump’s aggressive rhetoric has rattled investors, leaving them looking for clarity about US trade policy. Meanwhile, BTC registered growing investor interest, helping it maintain its position above $90,000 despite market uncertainty.

BTC registered volatility and a marginal decline on Wednesday (April 30). However, it rebounded on Thursday, rising 2.45% to cross $96,000 and settle at $96,458. Buyers retained control on Friday as the price registered a marginal increase and settled at $96,939. Despite the positive sentiment, selling pressure returned over the weekend. As a result, BTC dropped 0.98% on Saturday and 1.66% on Sunday, slipping below $95,000 and settling at $94,390. BTC started the current week positively, registering a marginal increase and settling at $94,773. Bullish sentiment intensified on Tuesday as the price rose 2.19% to cross $96,000 and settle at $96,845. BTC encountered volatility on Wednesday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered a marginal increase to claim $97,000 and settle at $97,013. BTC and the crypto markets rallied Thursday after President Trump announced a comprehensive trade deal with the UK. The flagship cryptocurrency surged over 6%, shattering the $100,000 mark, and settled at $103,096, but not before reaching an intraday high of $103,963. The current session sees BTC marginally down as sellers look to lower the price and buyers look to force a move past $105,000. However, BTC faces selling pressure and profit-taking, leading to waning momentum. If buyers can regain momentum, a push toward $109,000 could occur.