Harun Ozalp | Anadolu | Getty Photos
Bitcoin on Thursday hit its highest stage since February, climbing again above the important thing $100,000 stage.
The value of the flagship cryptocurrency was final increased by almost 6% at $101,679.85, in line with Coin Metrics.
The transfer started in a single day after President Donald Trump first teased an announcement between the U.S. and the UK on commerce. Bitcoin continued its climb and touched $100,000 as Trump revealed a broad define of the settlement on Thursday morning. Shares additionally rallied.
“Bitcoin has not solely reclaimed $100,000 for the primary time in three months however it’s additionally reaffirmed its standing as the final word bouncebackability asset because the prospects for U.S. commerce offers brighten,” stated Antoni Trenchev, co-founder of crypto alternate Nexo.
The current market uncertainty has been a boon for bitcoin — and it might proceed to elevate the flagship crypto with traders starting to doubt the safe-haven standing of the U.S. Though the Trump administration has walked again a few of its aggressive rhetoric on tariffs, traders are nonetheless on the lookout for readability on what commerce coverage might be.
“Bitcoin stays buttressed by a pro-crypto Trump administration together with hungry shopping for from spot-ETF traders … whereas its outperformance versus U.S. fairness benchmarks in 2025 highlights its resilience and secure haven standing,” Trenchev stated.
“Anticipate bitcoin’s resilience to be examined additional in an unsure and unstable world macro and geopolitical atmosphere,” he added. “Look no additional than rising tensions between India and Pakistan, which danger escalating right into a full blown battle. In the meantime we’ve got a Federal Reserve in no rush to chop charges and equally involved about unemployment and inflation.”
Bitcoin, YTD
Shares rose broadly, with the Dow Jones Industrial Common up greater than 500 factors. Coinbase superior greater than 5%, together with Technique.
Different cryptocurrencies, which have struggled to maintain tempo with bitcoin this 12 months, rallied. Ether jumped about 18%, whereas the token tied to Solana gained 10% and dogecoin rose 12%.
Since Trump launched the tariff coverage in early April that rocked markets for a number of weeks, bitcoin is up greater than 17%. In the identical interval, spot gold has gained greater than 5% whereas the S&P 500 marginally decrease.
Bitcoin is not out of the woods, nevertheless, till it tops its January excessive of about $109,350, and the cryptocurrency might languish in its post-election buying and selling vary — between $70,000 and $109,000 — for an additional two months, Trenchev stated.
Nonetheless, he added, “the retaking of $100,000 should go down as one among bitcoin’s extra formidable feats and is a reminder that purchasing peak concern — simply final month bitcoin was languishing round $74,000 — might be exceptionally profitable.”
