Bitcoin has surged past the $100,000 mark for the first time since early February, buoyed by renewed investor confidence following a major trade agreement between the United States and the United Kingdom. The world’s largest cryptocurrency rose 4.7% on Thursday, hitting $101,329.97 by midday and clawing its way back into positive territory for the year. Despite the gains, it remains below its all-time high of over $109,000 recorded in January.
The rebound comes amid growing optimism that geopolitical tensions especially the U.S.-led trade conflicts may be easing. President Donald Trump and UK Prime Minister Keir Starmer jointly announced a “breakthrough deal” that marks a shift toward economic cooperation. Under the new agreement, the U.S. will maintain a 10% tariff on UK imports, while Britain will reduce its tariffs on American goods from 5.1% to 1.8%, expanding market access for U.S. businesses.
The announcement injected fresh risk appetite into global markets, boosting digital assets in particular. Antoni Trenchev, co-founder of crypto platform Nexo, called Bitcoin’s climb back to six figures “one of its more formidable feats.” He emphasized the strength of the rebound, noting that Bitcoin was trading around $74,000 just a month ago. “Buying peak fear can be exceptionally lucrative,” Trenchev noted, pointing to increased accumulation by long-term holders who have kept their coins for over 155 days.
Other cryptocurrencies also benefited from the renewed optimism. Ether, the native token of the Ethereum blockchain, jumped more than 14% to $2,050.46 its highest level since late March.
Bitcoin’s rapid recovery highlights its resilience and continued appeal as a hedge against macroeconomic uncertainty. With long-term holders absorbing sell pressure from short-term speculators, analysts say the path toward new all-time highs is now clearer. Should the current momentum continue, a retest of the January peak around $109,000 may be imminent.
As investors digest the implications of the U.S.-UK trade pact and await further policy signals, Bitcoin’s price action serves as a barometer of broader market sentiment in an increasingly interconnected financial world.
