Anticipation of Bitcoin Reaching $100K as Trump Indicates Potential Significant Trade Agreement, Expectedly With UK
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Bitcoin is edging close to the $100,000 mark following hints of a significant trade deal from none other than President Trump. In a Trutht posting, he teased an exciting announcement coming up at 10 a.m. from the Oval Office, promising a "major trade deal with reps of a big, highly respected country – the first of many!!!"
Although Trump didn't disclose the country in question, rumors are swirling it's the UK, with The New York Times and the BBC confirming that British Prime Minister Kier Starmer will make an announcement today about a deal with the US on tariffs.
This announcement sent shockwaves through the crypto markets, pushing Bitcoin past $99,000 for the first time in nearly two months.
As we speak, Bitcoin's trading at more than $99,500, marking its first time crossing the $99K threshold since Feb 21st, according to TradingView.
The top 10 largest cryptos by market cap are riding on Bitcoin's coat-tails, with Ethereum pushing beyond $1,900 after a 5.1% surge, and Dogecoin leading the pack with a solid 5.3% gain.
Earlier speculation of a meeting between China and the US this week to discuss tariffs further fueled market excitement, with Bitcoin surging almost 5% in the past week and 26% in the last month as Trump eased his hard line on trade.
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- The potential trade deal with unspecified representatives from a significant country, coupled with the possibility of a meeting between China and the US on tariffs, has sparked interest in the finance and technology sectors, particularly in the business and general-news arena, as these events could have a broad impact on the global economy.
- As Bitcoin inches closer to the $100,000 mark, fueled by speculation about these trade deals, the UK's potential involvement and the importance of such an agreement weigh heavily on the political landscape, affecting not just the cryptocurrency market but also broader business and financial spheres.
