Bitcoin rallied close to the $100,000 milestone early Thursday as former President Donald Trump teased the announcement of a significant trade agreement with a “big, highly respected country.” Trump is expected to unveil details at a 10 a.m. ET press conference, calling the deal “major” and hinting it could be the “first of many.”
While the identity of the nation remains unconfirmed, speculation is swirling around the U.K. as the likely counterpart. Easing tariff conditions with a key global player could relieve inflationary pressures and reignite enthusiasm for risk assets across the board—including cryptocurrencies, tech stocks, and other high-beta investments.
Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!
From Donald Trump Truth Social 05/07/25 08:56 PM— Fan Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) May 8, 2025
Bitcoin has surged over 2.3% in the last 24 hours, continuing a weeklong rally fueled by favorable macroeconomic shifts, according to Coin Gecko. Falling bond yields, a weaker U.S. dollar, and renewed institutional interest—particularly via spot bitcoin ETFs—have all contributed to the bullish momentum.
The broader context adds another layer of significance: U.S. leaders face mounting pressure to counter China’s growing influence and reinvigorate domestic manufacturing. Any rollback in tariffs may quickly ripple through global markets, offering a boost to speculative assets and investor sentiment alike.
As the world watches Trump’s announcement, markets are poised for potential breakout moves.