Bitcoin hits $100,000 as Trump teases US-UK trade deal, sparking a $260 million short squeeze and renewed bullish momentum.
Bitcoin (BTC) finally printed $100,000 on major exchanges for the first time since February, before retreating slightly as profit‑taking set in.
The breakout gathered pace as the Federal Reserve’s interest rates remained stable, and President Trump announced positive developments in the tariff deals with multiple countries.
Donald Trump Signs a Trade Deal With the UK
Today, Trump announced the first deal since his administration’s sweeping tariff program began last month. The US president said that his government reached an agreement with the UK, and several other deals are in the final stages.
The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 8, 2025
A Reuters report indicates the agreement will reduce US‑UK duties on steel and autos, easing supply‑chain inflation fears that have dogged risk assets since the tariff shock.
Risk‑on sentiment spilled into crypto, with more than $260 million in short positions liquidated across derivatives venues in the past 24 hours, according to CoinGlass data.
Traders now eye $105,000 as the next resistance. Should Trump’s deal materialize without surprises, bulls argue the path to $120,000 could open quickly
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Harsh Notariya is an Editorial Standards Lead at BeInCrypto, who also writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created...
Harsh Notariya is an Editorial Standards Lead at BeInCrypto, who also writes about various topics, including decentralized physical infrastructure networks (DePIN), tokenization, crypto airdrops, decentralized finance (DeFi), meme coins, and altcoins. Before joining BeInCrypto, he was a community consultant at Totality Corp, specializing in the metaverse and non-fungible tokens (NFTs). Additionally, Harsh was a blockchain content writer and researcher at Financial Funda, where he created...
