Bitcoin returns to February levels, passes $100,000 per coin

The price of bitcoin rose past $100,000 on Thursday for the first time since early February.

The world’s largest cryptocurrency advanced 4.7% to $104,040 by 07:38 ET (11:38 GMT), continuing its rebound from the year’s lows. It later pulled back slightly to trade around $103,224 by 09:00 ET (13:00 GMT), still in the black for the year.

Bitcoin had hit a high of more than $109,000 in January, before pulling back sharply from those levels.

The cryptocurrency rose after the U.S. and the U.K. announced a trade agreement on Thursday, signaling a possible easing of President Trump’s global trade tensions.

The agreement, reached by President Trump and British Prime Minister Keir Starmer, will see the U.S. impose a 10% tariff on British goods. In return, Britain will cut its tariffs from 5.1% to 1.8% and provide greater access for U.S. goods.

This is the first such agreement since President Trump began a global trade war with several tariffs when he took office earlier this year.

The move comes after months of strained relations between the two countries, largely due to President Trump’s trade policies.

President Trump has threatened to impose tariffs on a wide range of British goods, including cars, whisky and cheese, in retaliation for what he says is unfair trade practices by the European Union.

The EU has retaliated with tariffs of its own on U.S. goods, such as peanut butter and steel.

The trade dispute has been a major source of tension between the U.S. and the U.K., which are close allies.

The two countries have also clashed over Brexit, with President Trump expressing support for Britain’s decision to leave the EU.

Despite the recent improvement in relations, there are still several outstanding issues that could lead to further trade friction.

These include President Trump’s threats to pull the U.S. out of the North American Free Trade Agreement (NAFTA) with Canada and Mexico.

Overall, though the direct impact of tariffs and trade disruptions on crypto markets is limited, sentiment plays a crucial role in this largely speculative sector. Recent improvements in risk appetite have helped bitcoin return to positive territory this year.

The focus now shifts to whether bitcoin can keep its price above the $100,000 level.