Bitcoin and crypto have suddenly soared into May

The bitcoin price, up around 30% from its April lows, has surged to $100,000 for the first time since February

The bitcoin price and wider crypto market have shot higher in May, helped by a surprise U.S. presidential bitcoin price prediction and fears around Donald Trump’s trade war receding.

The bitcoin price, up around 30% from its April lows, has surged to $100,000 for the first time since February as a leak has revealed that Wall Street companies are quietly ramping up their bets on bitcoin and crypto.

Now, as bitcoin hurtles toward a $10 trillion game-changer, Trump’s Oval Office tease of a “truly earth-shattering" announcement has been seized on by the crypto crowd who are wildly speculating it could be related to bitcoin.

"Crypto holders, be ready," one crypto trader and X influencer posted on the social media platform, referencing Trump’s remarks.

"Hope this is a bullish surprise," another posted.

This week, Trump hinted he would make a “truly earth-shattering” announcement in the next few days during an Oval Office meeting with Canada’s prime minister Mark Carney.

“We’re going to have a very, very big announcement to make, like as big as it gets,” Trump said. “And I won’t tell you on what … and it’s very positive. It is really, really positive. It’ll be one of the most important announcements that have been made in many years about a certain subject, very important subject.”

Trump, who added the announcement was “not about trade," is due to travel to Saudi Arabia, Qatar, and the United Arab Emirates next week, where he’s expected to announce the U.S. will now refer to the Persian Gulf as the Arabian Gulf or the Gulf of Arabia, according to media reports citing anonymous sources.

The bitcoin price has rebounded since crashing to April lows of around $75,000 per bitcoin, helped by fears around U.S. president Donald Trump’s trade war receding.

The bitcoin price and wider crypto market rocketed following Donald Trump’s election victory in November, with his landmark announcement that that the U.S. will create a bitcoin strategic reserve and a crypto stockpile further boosting prices.

Trump’s dismantling of Biden-era restrictions on Wall Street support for crypto has also propelled the bitcoin price higher even as his on-again-off-again global trade war roils stock markets and pushes the gold price to record highs.

“Some of the worst fears around the Trump administration’s tariffs seem to be calming down, which has had a positive impact on markets generally," James Toledano, chief operating officer at Unity Wallet, said in emailed comments.