Bitcoin (BTC) Price Rises 3.38% on May 9, 2025

The rally gained momentum amid steady interest rates from the Federal Reserve and encouraging news from President Trump regarding progress on trade agreements with several countries.

Jakarta, Pintu News – The rally in Bitcoin continued on May 9, as the price of the leading cryptocurrency increased by 3.38% over the past 24 hours to reach $102,667, or IDR 1,689,362,393.

The rise in Bitcoin's price came amid steady interest rates from the Federal Reserve and encouraging news from President Trump regarding progress on trade agreements with several countries.

At 08:00 (GMT+2), Bitcoin was trading at $102,667, which was up 3.38% over the past 24 hours, with the price ranging from a low of IDR 1,627,599,076 to a high of IDR 1,707,671,567.

According to data from CoinMarketCap, the market capitalization of Bitcoin was around $2.03 trillion, while trading volume in the last 24 hours increased by 51% to $67.08 billion.

On May 8, Donald Trump announced the first trade deal since his administration imposed massive tariffs last month.

The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United…

The US president stated that his administration has reached an agreement with the UK, and several other deals are currently in the final stages of negotiation.

According to a report by Reuters, this agreement will cut tariffs between the US and the UK on steel and automotive products, which is expected to ease supply chain inflation concerns—concerns that have been weighing on risk assets since the tariff turmoil began.

The risk-on sentiment also spilled over into the crypto market, with over $492 million worth of short positions liquidated across various derivatives platforms in the last 24 hours, according to data from CoinGlass.

Currently, traders are monitoring the $105,000 level as the next resistance. If the Trump deal goes off without a hitch, the bullish side believes that the road to $120,000 could open up quickly.

Meanwhile, according to a Lookonchain report on May 8, 2025, an anonymous Bitcoin address closed two short positions and incurred a loss of $1.6 million due to the price increase.

After $BTC jumped, this whale closed his $BTC short positions—taking a loss of over $1.6M.https://t.co/kE6VEWKMRA https://t.co/HCJufZTupr pic.twitter.com/qjpY8rvaRu

Data from CoinGlass also revealed that the largest single liquidation in the last 24 hours (8/5), worth $10.6 million, came from BTC short positions. Historically, the liquidation of short positions often triggers an optimistic sentiment among traders, which pushes the price up further.

The beginning of Bitcoin's price surge came after the US Federal Reserve announced that interest rates would remain in the range of 4.25% to 4.50%, as reported by Contant Energy. The leading digital asset had experienced high volatility ahead of the FOMC meeting on May 7.

The decision triggered positive sentiment in the financial markets. The S&P 500 Index rose by 0.43%, while the CBOE Volatility Index (VIX) fell by 7.71%.

As the price of Bitcoin rose, a whale who was previously inactive for four months bought 100 BTC worth $9.78 million.

A whale bought 100 $BTC($9.78M) after the $BTC price rose.This whale sold 100 $BTC at $101,874 4 months ago, and after 4 months of inactivity, he started buying back $BTC at a lower price.https://t.co/XSuQ18gxT בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני בני