Bitcoin soared past the $100,000 mark on Thursday, reaching this milestone for the first time since February. The surge comes as investors return to riskier assets following the announcement of a new trade agreement between the United States and the United Kingdom.
“Now that the United States is taking a more cooperative stance and finalizing deals globally, cryptocurrencies are gaining momentum again,” said Stephane Ifrah, an analyst at crypto platform Coinhouse.
Bitcoin first broke the $100,000 threshold in December and peaked at $109,241.11 on January 20, just before President Donald Trump’s inauguration for a second term. Trump had pledged to support cryptocurrencies during his campaign.
However, markets were rattled earlier in the year by sweeping U.S. tariffs on several nations, sparking global economic uncertainty. Although not directly targeted, cryptocurrencies experienced a sharp sell-off as investors shifted towards safer assets like gold.
The sector also suffered major setbacks, notably the collapse of $LIBRA, a once-prominent digital currency supported by Argentine President Javier Milei. The coin’s value plummeted after early investors cashed out at a significant profit, leaving later buyers with substantial losses. Argentine authorities are currently investigating whether Milei’s promotion of $LIBRA constituted fraud or misconduct.
Further denting investor confidence, Dubai-based crypto exchange Bybit disclosed in February that hackers had stolen $1.5 billion—marking the biggest crypto theft in history.
Bitcoin fell to as low as $75,000 in early April. Yet it has rebounded sharply since, benefiting from stronger equity markets and renewed optimism surrounding international trade.
“Bitcoin is rallying alongside the stock market,” noted Charlie Morris, an analyst at ByteTree. “The UK trade deal is a positive signal, and more agreements may be on the horizon.”
In response to crypto’s growing influence, the UK government unveiled draft legislation in late April aimed at regulating digital assets like Bitcoin and Ethereum—mirroring similar regulatory efforts by the European Union.
