Bitcoin is making headlines today after surging from $95,700 to nearly $99,686 within hours. The sudden rally appears to tie directly to U.S. President Donald Trump’s cryptic announcement of a “major trade deal” with a “highly respected country,” which The New York Times later identified as the United Kingdom. The post has injected fresh optimism into global markets and fueled a broader crypto market rally.
Meanwhile, Bitcoin’s rise is backed by strong market activity — with $83.6 million in shorts liquidated and open interest jumping 26% to $64.4 billion — signaling bullish momentum. A key reversal pattern is still active, suggesting a potential push toward $100,000 and beyond. While Bitcoin is now very close to the $100,000 mark, ongoing market fluctuations and a lack of concrete deal details keep some doubts in play.
On May 7, Trump announced a press conference for 10 AM ET, teasing a groundbreaking trade agreement. Although the full details remain unclear, even the mention of a potential US-UK deal sparked a strong reaction. Bitcoin quickly jumped 2.56% to around $99,251, while Ethereum surged 6% and XRP climbed 2.5%. The total crypto market cap rose 2.72% to $3.07 trillion.
According to The New York Times, sources confirmed the deal involves the United Kingdom. While it may only signal the start of negotiations, crypto investors seem to be pricing in potential economic upside early.
Some analysts believe this could be a classic case of “buy the rumor, sell the news,” with traders jumping in ahead of the announcement in hopes of a short-term pump. Influencer Loma even accused Trump of “blatantly manipulating the markets.”
On the other hand, some point to strong fundamentals — especially over $3 billion in Bitcoin ETF inflows over the last two weeks — as proof that the rally could be more than just hype, and that a sustained breakout above $100K is possible.
Experts suggest the agreement may initially focus on topics like digital trade, tariffs, and non-tariff barriers. But this early-stage excitement shows how politically driven narratives, combined with institutional demand, can bring Bitcoin’s $100K target back into focus.
Bitcoin’s price surged following President Trump’s announcement of a major trade deal with the UK, boosting investor confidence and market optimism.
Analysts suggest that the positive sentiment from the trade deal could propel Bitcoin’s price to $100,000, especially with strong market momentum.
Other cryptocurrencies like Ethereum and XRP also experienced gains, with Ethereum up 6% and XRP climbing 2.5%, reflecting a broader market rally.
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