The cryptocurrency market surged on Thursday as Bitcoin breached the $100,000 mark, reacting to President Donald Trump’s announcement of a landmark trade deal with the UK. The agreement, labeled by Trump as a “maxed-out deal,” is being viewed as a pivotal step in easing global trade tensions after years of tariff-related volatility.
At a press conference, Trump emphasized the scale of the agreement, stating, “This is a maxed-out deal that will only get bigger with growth. We have tremendous assets involved.” However, UK Ambassador Peter Mandelson downplayed the deal’s immediate impact, referring to it as “just a starting point,” but acknowledged its strategic importance in fostering further negotiations.
Bitcoin Surges as Crypto Markets Rally
Following the trade announcement, Bitcoin rallied past $100,000, triggering a broader market surge. Ethereum and other altcoins also saw significant gains as investors interpreted the deal as a positive signal for global economic stability.
Nic Puckrin, a crypto analyst and founder of The Coin Bureau, noted the market’s reaction, saying, “Traders woke up to green candles not because of Fed comments but due to optimism surrounding global trade dynamics.” However, Puckrin cautioned that the rally occurred amid low trading volumes, potentially setting the stage for heightened volatility.
Meanwhile, spot Bitcoin ETFs continued to see strong inflows, suggesting that institutional interest in BTC remains robust despite lingering economic uncertainty.
Market Uncertainty Lingers Amid Trade Optimism
Despite the bullish momentum, concerns remain. Puckrin pointed out that the agreement lacked concrete specifics, raising questions about its potential to sustain current market gains.
Similarly, Charles Wayn, co-founder of Galxe, emphasized that while the trade deal could revive the crypto bull market, a full-blown altseason remains contingent on more substantive policy changes.
“This announcement halted a crypto bull market many thought would last until July,” said Wayn. “With more deals and concessions, we might see renewed confidence, but until then, expect volatility.”
The crypto market may have found a lifeline in the UK trade deal, but with Trump’s rhetoric remaining unpredictable and market conditions still uncertain, analysts warn that the road ahead may be as turbulent as the past few months.
