Trump Trade News Ignites Bitcoin Mania—$100K Coming?

Bitcoin approached the $100,000 threshold on Wednesday after teasing a big international trade deal by US President Donald Trump. The agreement, as reported by The New York Times, will be with the United Kingdom and is to be formally announced at the White House on Thursday.

The cryptocurrency was at $99,200 as of publication, having risen from $97,100 when Trump initially posted about the deal on his Truth Social page. The post, published on May 7, stated that a “big trade deal” with a “highly respected” nation would be announced on May 8. Sources familiar with the situation indicated to The New York Times that the deal is with the UK.

Speculation Linked To Bitcoin’s Rise

Some Bitcoin observers think the trade deal has helped drive prices higher. FOMO21 co-founder Neil Jacobs wrote on X that Trump’s message was probably the main reason Bitcoin began rising.