Bitcoin (BTC) finally reached the $100,000 mark on major exchanges for the first time since February, before slightly declining as investors took profits.
This breakthrough accelerated when the US Federal Reserve (Fed) interest rates remained stable, and President Trump announced positive developments in trade agreements with multiple countries.
Donald Trump Signs Trade Agreement with UK
Today, Trump announced the first agreement since his comprehensive tariff program began last month. The US President stated that his government had reached an agreement with the UK, and several other agreements are in the final stages.
A Reuters report indicated that this agreement would reduce tariffs between the US and UK on steel and automobiles, alleviating concerns about supply chain inflation that has challenged risky assets since the tariff shock. Risk appetite spread to the crypto market, with over $492 million in short positions liquidated on Derivative exchanges in the past 24 hours, according to data from CoinGlass.
Crypto liquidation heat map. Source: CoinglassTraders are now targeting the $105,000 level as the next resistance point. If Trump's agreement proceeds smoothly, optimistic investors believe the path to $120,000 could open up quickly.
