Bitcoin advanced sharply on Thursday to near $100,000 threshold for the first time since February following renewed market optimism over global trade developments and improving risk sentiment.
The largest digital asset gained as much as 3.2% to trade at $99,894 during intraday trading while Ether rose 9.4% to $1,968, its strongest performance in over five weeks.
The rally was triggered by growing expectations of a major trade agreement between the United States and the United Kingdom with U.S. President Donald Trump hinting at the development in a social media post late Wednesday.
The announcement follows earlier confirmation of trade talks between the U.S. and Chinese governments scheduled to take place in Switzerland.
“Markets have clearly shifted to a more risk-on tone over the past week,” said Josh Gilbert, Market Analyst at eToro. “Trade tensions appear to be easing, with Donald Trump signaling a willingness to negotiate, and that’s helping lift sentiment across risk assets, particularly bitcoin.”
Bitcoin has rebounded significantly from a recent low below $75,000 in early April, which followed aggressive tariff announcements that dampened investor sentiment.
The digital asset had previously reached an all-time high of $109,241 on January 20, driven by Trump’s initial pro-crypto policy signals aimed at fostering a more supportive regulatory environment for U.S. blockchain firms.
Ether’s latest breakout comes despite recent concerns surrounding its competitive positioning and scalability.
A recent software upgrade designed to enhance Ethereum’s performance delivered limited market impact at the time, but Thursday’s move lifted the token to its highest intraday level since March 27.
Technical analysts noted that the $100,000 resistance levels for Bitcoin represent a critical psychological and technical resistance level.
“Psychologically significant round-numbers such as the $100,000 mark often prompt short-term profit-taking,” said Rachael Lucas, crypto analyst at BTC Markets. “A period of consolidation may follow as traders realize gains should Bitcoin reclaim that level.”
Market analysts expect continued volatility in the short term, particularly as macroeconomic sentiment shifts in response to potential trade developments.
The Federal Reserve’s decision to hold interest rates steady on Wednesday also provided some support to risk assets, though the central bank highlighted ongoing inflationary concerns and labor market uncertainties.
While momentum remains strong in the crypto space, investor attention is now focused on the formal confirmation of the anticipated U.S.-UK trade agreement as well as the outcome of the upcoming U.S.-China negotiations.
Any concrete resolution is likely to influence market direction for both digital assets and broader financial markets.
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