Bitcoin Approaches $100,000 Amid Anticipation of Major Trade Deal
Bitcoin approached $100,000 early Thursday following President Trump's announcement of a forthcoming trade deal with a "big, highly respected country." A press conference is set for 10 a.m. ET to detail this "first of many" deals.
Key points include:
- The specific country involved is not confirmed, but reports suggest it may be the U.K.
- Easing tariffs could reduce inflationary pressures and enhance investment conditions in crypto and tech sectors.
- Bitcoin has risen over 5% in the past 24 hours, continuing a weeklong rally amid improving macroeconomic factors.
- Falling bond yields, a weakening dollar, and increased institutional interest in spot bitcoin ETFs are contributing to price momentum.
- Political pressure in the U.S. to address China's influence and boost domestic manufacturing adds context to the potential tariff rollbacks.