Bitcoin Approaches $100,000 Amid Trump Trade Deal Speculation

Bitcoin approached $100,000 on May 7, rising to $99,200 following a post by US President Donald Trump about a forthcoming trade deal with the United Kingdom, to be announced on May 8. The cryptocurrency increased from $97,100 after the announcement.

Key Points

Speculation around Trump's trade deal contributed to Bitcoin's price rise.
Market sentiment shifted to "Greed," with a Crypto Fear and Greed Index reading of 65.
Recent Bitcoin gains led to $96 million in short positions being liquidated.
The US Federal Reserve maintained interest rates between 4.25% and 4.50%, despite Trump's calls for a reduction.
Political developments are impacting investor behavior more than central bank policies.

Bitcoin last peaked over $100,000 on February 1, influenced by tariff announcements from Trump. Current market reactions suggest traders are closely monitoring political news.