Bitcoin (BTC) price inches toward $100,000 as US President Donald Trump prepares to announce a trade deal with the UK

Bitcoiners expect Bitcoin to soon break past $100,000 and potentially hit a new all-time high as US President Donald Trump is set to announce a trade deal with the UK.

President Donald Trump said on May 7 that a “major trade deal” with a “big, and highly respected, country” would be announced on May 8.

The New York Times reported that the country would be the UK, according to three people familiar with the plans.

Trump announced the trade deal just hours after the US Federal Reserve announced that it would keep interest rates at 4.25% to 4.50% despite mounting pressure from Trump to lower interest rates.

Bitcoin was trading at around $97,759 when Trump announced the trade deal and has since crept up closer to the psychological $100,000 price level to trade at $99,140 at the time of publication, according to CoinMarketCap data.

Several Bitcoiners and analysts are crediting the rally toward $100,000 to speculation surrounding the trade deal.

Australian crypto exchange BTC Markets’ head of finance, Charlie Sherry, told

that “as everyone else was looking down and calling for lower,” Bitcoin’s price did the opposite.

Sherry said it is possible that the trade deal is already getting priced into Bitcoin.

“While we may see psychological resistance at the $100k mark, it seems inevitable Bitcoin puts another zero on the board,” Sherry said.

FOMO21 co-founder Neil Jacobs said on X that the Bitcoin rally was primarily due to Trump’s announcement.

Crypto entrepreneur Anthony Pompliano said the incoming trade deal “means odds are increasing we hit new all-time highs in 2025.”

Bitcoin reached its current all-time high of $109,000 on Jan. 20, just hours before Trump’s inauguration.

Pandora CEO Sahib Anandsongvit said that he “can’t stop to think” how Bitcoin was $80,000 only a few weeks ago, noting Bitcoin’s $98,000 price at the time of the post. Bitcoin last traded at the $80,000 price level on April 11 and only reclaimed $90,000 on April 22.