Bitcoin (BTC) price drives crypto market rally after us-uk trade deal

Soon after US President Donald Trump announced a historic trade deal with the United Kingdom, Bitcoin, along with the entire crypto market, witnessed huge bullish momentum.

The post Key Notes: US-UK Trade Deal Spurs Crypto Market Rally; Bitcoin Surpasses Amazon in Market Cap at no.5 Spot appeared first on TokenPost.

The crypto market has shot up significantly, leading to nearly $900 million in liquidations over the last 24 hours. Of them, over $800 million have been in short liquidations with the Bitcoin price surging 4.5% to over $102,000 and eyeing new all-time highs. On the other hand, altcoins have staged a strong recovery led by 17% Ethereum price gains.

Bitcoin price surges further as US, UK strike trade deal

Soon after US President Donald Trump announced a historic trade deal with the United Kingdom, Bitcoin, along with the entire crypto market, witnessed huge bullish momentum. Following a successful breakout at $100K, BTC price is up 4.26% at press time, trading above $103,000, while reclaiming the $2 trillion market cap.

As long as BTC holds the crucial support at $100K, the next immediate targets would be $106K, $108K, and a fresh all-time high beyond $109K.

although I'm still bullish on higher time frames, this prob isn't the best place to get giga long for $BTC

prob going to have some stopping point somewhere soon pic.twitter.com/ypH4QN2DwV— Altcoin Sherpa (@AltcoinSherpa) May 9, 2025

Additionally, with today’s price surge, Bitcoin has achieved a significant milestone, overtaking Amazon in market capitalization to become the fifth most valuable asset worldwide.

Furthermore, the House of Representatives passed a bill on Thursday that could pave the way for the US to adopt a central bank digital currency (CBDC). This development has also contributed to the positive momentum in the crypto market.

Rising demand for BTC sparks mass short liquidations

The recent price rally in Bitcoin has triggered significant liquidations, with over $800 million in short positions liquidated in the past 24 hours. This marks the largest single-day total for bearish positions since 2023.

As the trade war fears subside, and the US economy seems on a strong footing, the overall crypto market is showing strength, while resuming the next leg of the rally. Some macro factors will continue to weigh moving ahead.

Related Article: House Passes Bill Setting Stage for Potential US Central Bank Digital Currencylaunch

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.