Bitcoin surged toward $100,000 on Thursday morning as President Donald Trump teased the imminent announcement of a major tariff deal with a “big, highly respected country.”
Trump is set to hold a news conference at 10 a.m. ET to reveal the trade deal, which he described as the “first of many.” While the country involved remains unidentified, reports suggest it could be the United Kingdom. If confirmed, easing tariffs could help alleviate inflationary pressures, creating a more favorable environment for investing in high-risk assets like crypto and tech stocks.
Bitcoin has seen a 5% increase in the past 24 hours, continuing its strong rally for the week as macroeconomic conditions improve. The rise in Bitcoin’s price is being fueled by a combination of factors, including falling bond yields, a weaker dollar, and renewed institutional interest in spot bitcoin ETFs.
This news comes at a time when U.S. leaders face increasing political pressure to address China’s expanding influence and revitalize domestic manufacturing. While specifics of the tariff deal are still under wraps, any rollback of tariffs could serve as a catalyst for driving up prices in risk assets like Bitcoin.
