Bitcoin soared to its highest level since February on Thursday, breaking above the $100,000 mark for the first time in months, fueled by optimism surrounding a potential U.S.-UK trade agreement.
The leading cryptocurrency climbed nearly 5%, reaching $100,881.90, according to Coin Metrics.
The rally began overnight after President Donald Trump hinted at a forthcoming trade announcement between the U.S. and the United Kingdom.
Bitcoin’s upward momentum intensified Thursday morning as Trump outlined the framework of the deal, sparking a broader market rally that also lifted stocks.
“Bitcoin has not only reclaimed $100,000 for the first time in three months but it’s also reaffirmed its status as the ultimate bouncebackability asset as the prospects for U.S. trade deals brighten,” said Antoni Trenchev, co-founder of crypto exchange Nexo.
The recent market uncertainty has worked in Bitcoin’s favor, as investors begin to question the U.S. dollar’s safe-haven status.
While the Trump administration has eased some of its tough rhetoric on tariffs, uncertainty about future trade policies still lingers, leading investors to seek alternative assets like Bitcoin for stability.
“Bitcoin remains buttressed by a pro-crypto Trump administration along with hungry buying from spot-ETF investors … while its outperformance versus U.S. equity benchmarks in 2025 highlights its resilience and safe haven status,” Trenchev said.
“Expect bitcoin’s resilience to be tested further in an uncertain and volatile global macro and geopolitical environment,” he added.
Stocks and crypto saw strong gains, with the Dow Jones up over 500 points.
Coinbase rose more than 5%, and Strategy climbed nearly 7%. In crypto, altcoins outperformed: Ether surged 13%, Solana’s token gained 9%, and Dogecoin jumped 11%, narrowing the gap with Bitcoin’s dominance this year.
Since Trump introduced his tariff policy in early April, which rattled financial markets for several weeks, Bitcoin has climbed more than 16%.
During the same period, spot gold has risen nearly 6%, while the S&P 500 has seen only a slight gain.
