Bitcoin Reaches $100,000 After Trump Teases 'Big' International Trade Deal

Bitcoin approached the $100,000 threshold on Wednesday after teasing a big international trade deal by US President Donald Trump.

A new report from The New York Times has revealed that President Donald Trump will be announcing a big trade deal with the United Kingdom at the White House on Thursday. The agreement, which has been teased by Trump on his Truth Social page, is being linked by some Bitcoin observers to the cryptocurrency’s recent price movements.

The cryptocurrency was trading at $99,200 at the time of writing, having risen from $97,100 following Trump’s post on May 7. In the post, the president stated that a “big trade deal” with a “highly respected” nation would be announced on May 8.

Sources familiar with the situation told The Times that the deal is with the UK and will be announced at a press conference. The report also mentions that Trump is planning to hold a press conference at 10 AM EST to discuss the trade deal.

The news of the trade deal comes as Bitcoin approaches the $100,000 threshold. Earlier, FOMO21 co-founder Neil Jacobs linked Trump’s message to Bitcoin’s recent price surge.

“TRUMP: BIG NEWS CONFERENCE TOMORROW 10AM EST IN OVAL, MAJOR TRADE DEAL WITH A BIG & HIGHLY RESPECTED COUNTRY,” wrote Jacobs on X (formerly Twitter) as he highlighted a post by Trump on Truth Social. “Is this the main reason why Bitcoin started pumping again?”

The cryptocurrency reached a 2025 high of $109,000 on January 20, just hours after Trump was inaugurated for a second term.

With this new wave of optimism, traders are now waiting to see if the cryptocurrency will manage to break into a new all-time high.

The mood in the crypto market has also changed, with the Crypto & Fear Index showing that the sentiment is now “Greed” with a reading of 65. This indicates that most investors are optimistic and prepared to take higher risks.

Moreover, Bitcoin’s recent 3% increase led to approximately $96 million worth of short positions being liquidated, as reported by CoinGlass. These liquidations occur when bettors against Bitcoin are forced to close their wagers due to price rises.

Trump's tweet arrived just a few hours after the U.S. Federal Reserve decided to keep interest rates at their current levels. The report from the Fed stated that the central bank would prefer to see the economy improve further before making any changes to interest rates.

The current preferred ranges for the federal funds rate are 4.25% to 4.50%, and for the top of the IPE range, it's 3.75% to 4.00%.

The decision to hold firm on rates comes despite Trump's repeated requests to lower rates. In April, he urged the Fed to "cut the rate" and stated that "our economy is doing great, the banks are loaded up with cash, the time is perfect for a small FED interest rate decrease."

However, the central bank opted not to make any changes to rates despite the Trump administration's requests.

As the Fed kept rates flat, Trump announced a press conference to discuss a "big trade deal" with a "highly respected country." The president's post on Truth Social read:

"Big announcement tomorrow morning, at the White House, at 10 AM, as a major trade deal with a big & highly respected country will be signed. The press and public are invited!"

This new development follows the news of Trump imposing new import tariffs on several nations, including China, Canada, and Mexico. Back in February, Bitcoin surged past the $100,000 mark following the announcement of the tariffs. At the time, Trump stated that the tariffs would be 5% on all goods from Canada, Mexico, and Spain, and 10% on goods from China, in an effort to balance trade.

The news of the trade deal and Trump's upcoming press conference comes as investors are keeping a close eye on any new developments that could influence the price of Bitcoin.