The price of Bitcoin (BTC) rose above the $100,000 mark for the first time since early February, reaching $103,000 on Thursday evening.
The cryptocurrency's rally followed a broad agreement between the United States and the United Kingdom, signaling that President Donald Trump's global trade tensions may be easing.
By 01:05 GMT (04:05 CET) on Friday, Bitcoin was trading at $103,133, a 5.84% increase over the last 24 hours.
Despite recent volatility, the world's largest cryptocurrency returned to positive territory for the year, though it remains below its January high of over $109,000.
Meanwhile, Ethereum also experienced gains, increasing by over 14% to $2,050.46 as it hit its highest point since late March.
Anthony Trenchev, co-founder of cryptocurrency lender Nexo, highlighted Bitcoin's remarkable rebound to $100,000. Last month, Bitcoin was trading at around $74,000, according to Nexo's figures.
"One of Bitcoin's greatest feats is unfolding as we speak," Trenchev noted. "Last month, it was trading at $74,000. Buy when there's peak fear, and you'll reap the rewards."
He added that the swift recovery amid renewed investor risk appetite suggests the $109,000 level and beyond could soon be within reach.
Bitcoin and other digital assets had dropped sharply between February and April, amid concerns that Trump's administration was stalling on pro-crypto reforms.
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