Bitcoin Soars Past $100k Following Announcement of US-UK Trade Deal

The cryptocurrency market experienced a significant surge following the announcement of a US-UK trade deal by President Donald Trump.

The cryptocurrency market experienced a significant surge in the last 24 hours, following the announcement of a US-UK trade deal by President Donald Trump. Bitcoin’s price soared to $102,722, marking a 3.9 percent increase on international exchanges and surpassing the $100,000 threshold for the first time in over two months. In India, Bitcoin’s value rose by 5.20 percent, trading at $97,915. This rally added over $240 billion to the crypto market in just one day.

The digital asset market has been heating up rapidly, with Bitcoin’s recent performance particularly noteworthy. As the fifth-largest asset by market capitalization, Bitcoin’s price climbed to $102,722, a substantial increase from the previous day. On Indian exchanges, Bitcoin traded at $97,915, reflecting a 5.20 percent rise.

According to Edul Patel, Co-founder and CEO of Mudrex, Bitcoin’s next resistance level is set at $106,600, while the support level is at $98,600. This upward trend signifies a growing confidence among investors in the cryptocurrency market, which has been steadily recovering after a period of decline.

Another major cryptocurrency, Ether, saw its price increase by over 16 percent within 24 hours, reaching $2,207 on international platforms. On Indian platforms, Ether’s value rose by 18 percent, attaining $2,155.

The CoinDCX research team highlighted the significant momentum in altcoins, with Ethereum surpassing the crucial resistance level of $2,200. This surge suggests a potential “altseason,” where altcoins may experience substantial growth. The overall positive trend in the market was reflected in the performance of various altcoins, including Ripple, Solana, Dogecoin, Cardano, and Tron, which all reported gains.

In the last 24 hours, the total cryptocurrency market capitalization increased by nearly five percent, reaching approximately $3.22 trillion. While many altcoins experienced price increases, some, including Tether, Litecoin, Near Protocol, Cosmos, and EOS Coin, reported decreases.

As the cryptocurrency market continues to evolve, it is essential for investors to recognize the inherent risks associated with digital currencies. Cryptocurrencies are not regulated and not considered legal tender, which means they are subject to market volatility. The information provided in this article is not intended as financial or trading advice. Investors should conduct thorough research and consider their financial situation before making any investment decisions.

The rapid changes in the market underscore the importance of staying informed and cautious in this dynamic environment.

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