Bitcoin surged past $99,000 early Thursday, hitting its highest level since February, fueled by optimism over a potential US-UK trade agreement hinted at by former President Donald Trump.
The world’s largest cryptocurrency is now approaching its all-time high set in March, gaining 2.6% on the day after briefly topping $94,000, according to CoinGecko.
“MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY,” Trump wrote on Truth Social late Wednesday, announcing a press conference for Thursday morning. The New York Times later confirmed the country involved is the United Kingdom.
The anticipated agreement may ease Trump-era tariffs, including a 10% general levy and additional charges on steel, aluminum, and automobiles. In return, Britain could reduce its digital services tax and tariffs on American agricultural goods—moves that would mark a significant step in restoring bilateral trade relations.
Bitcoin’s rally was also supported by a steady tone from the Federal Reserve. Chair Jerome Powell confirmed rates would remain at 4.25%–4.50% for now, while acknowledging economic resilience despite “heightened uncertainty.” Stocks also edged higher, with the S&P 500 and Dow posting modest gains under 1%.