Bitcoin Nears $100K as Trump Trade Deal With UK Looms

Bitcoin surged toward the $100,000 milestone on Thursday, reaching as high as $99,621—its highest level since February—as investors reacted to geopolitical optimism surrounding a potential U.S.-UK trade deal.

The rally was part of a broader crypto upswing, with Ether also jumping 8% to $1,943, its strongest intraday performance since early April.

The latest price movement follows Wednesday’s announcement that U.S. officials will resume trade negotiations with China in Switzerland, signaling a possible thaw in trade tensions.

Trump Teases ‘Major Trade Deal’ Likely With UK

President Donald Trump further stoked speculation by posting on social media about a forthcoming “major trade agreement,” which multiple reports suggest will involve the United Kingdom.

Bitcoin had previously reached an all-time high of $109,241 in January, buoyed by expectations that Trump’s pro-crypto stance would lead to a rollback of regulatory pressure seen during the Biden administration.

However, subsequent trade war concerns triggered a sharp correction, pushing the asset down nearly 32% to below $75,000 in April.

“A round number like $100,000 often invites profit-taking,” said Rachael Lucas, crypto analyst at BTC Markets. “If Bitcoin breaches that level, we may see a period of consolidation as traders lock in gains.”

Ether’s recovery comes after a sluggish period marked by investor uncertainty and increased competition from rival blockchain ecosystems.

A recent Ethereum upgrade, aimed at improving scalability and competitiveness, had failed to ignite much price action—until now.

With optimism returning to the market, crypto investors are closely watching for official confirmation of Trump’s trade agreement and whether Bitcoin can finally breach the highly anticipated $100,000 threshold.

Trump Holds Firm on China Tariffs as Trade Talks Set to Begin

Meanwhile, Trump has reaffirmed his hardline stance on China by stating he would not reduce the current 145% tariffs on Chinese goods, even as high-level trade talks between the U.S. and China are set to take place in Switzerland this weekend.

While Trump won’t meet with Chinese President Xi Jinping, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will lead the U.S. delegation.

China is reportedly preparing to exempt some U.S. goods from its 125% tariffs in a bid to deescalate tensions without making overt concessions.

On the economic side, Federal Reserve Chair Jerome Powell cautioned that the full economic impact of Trump’s tariffs has yet to materialize.

The Fed held interest rates steady, awaiting more data on how the trade war might ripple through the economy.

Trump, following a recent meeting with Canadian Prime Minister Mark Carney, emphasized that the burden of making trade deals rests on other nations, saying, “We don’t have to sign deals — they have to sign deals with us.”

In related developments, companies are already adapting to the shifting trade landscape. Luxury automaker Ferrari is implementing a two-tiered pricing strategy to offset Trump’s new 25% tariff on foreign auto imports.

Amin Ayan

Amin Ayan is a seasoned crypto journalist with over four years of industry experience. His work has been featured in top publications including Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. With a background in engineering, Amin brings a technical edge to his reporting and enjoys exploring the intersections of blockchain, artificial intelligence, and digital media.