Bitcoin soared above the $100,000 mark on Thursday for the first time since early February, propelled by renewed investor optimism following a significant trade agreement between the United States and the United Kingdom. By midday, Bitcoin was trading at $101,329.97, representing a 4.7% increase on the day and signaling a broader return of risk appetite across global financial markets. The cryptocurrency has now regained positive territory for the year, though it still lags behind its January peak of over $109,000.
Ether, the native token of the Ethereum blockchain, also experienced a notable rally, surging more than 14% to reach $2,050.46, its highest level since late March. Despite the momentum, Ether remains substantially below its late-2024 highs, suggesting that the broader altcoin market has not yet fully caught up with Bitcoin’s recovery.
The sharp turnaround in sentiment follows the announcement of a trade agreement between President Donald Trump and British Prime Minister Keir Starmer. Under the terms of the deal, a 10% tariff on UK goods entering the U.S. remains, while the UK agreed to cut tariffs from 5.1% to 1.8% and expand access for American goods. This development is seen as the first major de-escalation in global trade tensions since Trump reignited the trade war upon returning to the White House in January.
The agreement has contributed to a resurgence in market confidence, with Bitcoin’s reclaiming of $100,000 being hailed as a major milestone. Market analysts note that long-term holders—those who have held Bitcoin for at least 155 days—have provided a stabilizing force in recent weeks, absorbing sell-offs from shorter-term speculators. The price recovery from lows near $74,000 last month has been swift and underscores the effectiveness of buying during periods of extreme pessimism.
Several additional factors have supported Bitcoin’s rally, including renewed inflows into Bitcoin-focused exchange-traded funds, reduced geopolitical uncertainty, and China’s rollout of monetary stimulus to support global liquidity. Analysts suggest these elements have converged to create a favorable environment for digital assets, with Bitcoin once again leading the charge.
Despite lingering concerns over the pace of pro-crypto regulatory reforms in the U.S., Thursday’s gains have restored confidence that the market may be positioning for a new leg higher. The $109,000 level now looms as the next potential target, with bulls encouraged by the return of institutional interest and macroeconomic tailwinds.
READ MORE: