Bitcoin is on the move again—this time heading straight for the $100,000 mark.
On May 8, Bitcoin (BTC) jumped to $98,933, gaining 2.6% in 24 hours, after President Donald Trump made headlines by teasing a major trade deal with what he called a “big” and “highly respected” country.
He shared the news on Truth Social, saying he’ll hold a press conference from the Oval Office to reveal the agreement, calling it “the first of many.” Though Trump didn’t mention the country, sources told The New York Times it’s likely the United Kingdom.
🌍 Why It Matters for Bitcoin
This surprise announcement has sparked fresh optimism across global markets. Over the past few months, Bitcoin and other risk assets struggled due to growing trade tensions—especially after Trump raised tariffs on China in April. That move dragged BTC down to around $74,500.
Now, signs of a diplomatic turnaround have brought renewed confidence.
At the same time:
- Bitcoin ETFs are seeing steady inflows again.
- A weaker U.S. dollar is giving BTC a boost.
- The Federal Reserve decided to hold interest rates steady on May 7, which helped fuel market momentum.
Fed Chair Jerome Powell acknowledged “uncertainty” around Trump’s trade policies but said strong job numbers and a resilient economy justified the pause in rate hikes.
🇨🇳 U.S.-China Talks Also in Focus
In another key update, Treasury Secretary Scott Bessent is heading to Switzerland this week for high-level talks with Chinese officials. It’s the first serious attempt to cool off tensions after both nations increased tariffs last month.
This meeting could help reduce further market pressure and would likely be bullish for Bitcoin if it leads to progress.
📊 What’s Next for BTC?
Bitcoin is now within striking distance of a major psychological milestone: $100,000.
- Last all-time high: $109,000 (January 20, just before Trump’s inauguration)
- Recent dip: $74,500 (April, after China tariff hike)
- Current price: $98,933
Traders are watching closely to see if this breakout can carry BTC into six-figure territory again—especially with improving macro conditions and potential global trade breakthroughs on the horizon.
