Bitcoin holders are expecting the crypto giant to surpass $100,000 and potentially hit new highs as US President Donald Trump prepares to announce a trade deal with the UK.
Trump said on May 7 that a trade deal with the superpower would be announced on Wednesday.
Bitcoin is now at $98,892, up 1.89% during the day and opening a path to the psychological $100,000 level in the near future.
Australian crypto exchange BTC Markets’ chief financial officer, Charlie Sherry, told Cointelegraph that the market is probably predicting a decline and hoping it will happen.
Sherry said it is possible that the trade deal will continue to drive Bitcoin’s price movement.
In addition, the Federal Reserve (Fed) announced that interest rates will remain at 4.25%-4.50% despite previously coming under pressure from Donald Trump to cut rates.
Bitcoin has not touched $100,000 since February 1 after Trump proposed import tariffs on China, Canada and Mexico. Meanwhile, crypto market participants appeared more bullish on the overall market, with the Crypto Index recording a ‘Freed’ score of 65 points.
