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Cryptocurrency Expected to Reach $100,000 as Trump Signals Significant Trade Agreement, Predominantly with UK
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New Development: Bitcoin is nearing the $100,000 milestone! 🎉
The bullish run is fuelled by a potential major trade deal teased by none other than US President, Donald Trump. In a sensational announcement via his Truth Social platform, Trump hinted at a "BIG NEWS CONFERENCE" at 10 a.m. from the Oval Office. He promised to announce a "MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!"
The post sent shockwaves through crypto markets, propelling Bitcoin past $99,000 for the first time in close to two months. Although Trump hasn't disclosed the country, The New York Times and BBC report that it'll most likely be the UK. UK Prime Minister Kier Starmer is expected to make an announcement today regarding a deal on tariffs with the US.
A Leap Above $99K 🚀
Bitcoin is currently trading above $99,500, making this the first time BTC has breached the $99K mark since February 21st, as per TradingView charts.
📋 Daily BTC/USD (Source: TradingView)
Ethereum and Dogecoin, the top altcoins, have also risen significantly, with Ethereum surpassing $1,900 after a 5.1% surge, and Dogecoin leading the pack with a gain of 5.3%.
US-China Trade Talks Heat Up 🔥
In more trade-related news, it's beenreported that China and the US will hold talks in Switzerland this week to discuss tariffs. This announcement has boosted market sentiments, contributing to Bitcoin's surging price.
Trump's trade war against most of the world has eased somewhat, with nearly a 5% increase in Bitcoin's price over the past week and a 26% spike in the past month.
Additional Insights:
- After the announcement of the US-UK trade deal, negotiations are underway to finalize the details within weeks. [Source]
- The deal aims to enhance market access for American exporters in sectors like chemicals, machinery, beef, and ethanol, with reductions in US tariffs on vehicles, auto components, steel, and aluminum. [Source]
- The U.S.-UK deal falls short of being a full-fledged free trade agreement, which was the U.K.'s initial goal. [Source]
However, the impact on Bitcoin's price from this trade deal isn't directly linked. Bitcoin's price movements are influenced by global economic trends, regulatory news, investor sentiment, and market speculation, rather than specific trade agreements. [Source]
- UK Prime Minister Kier Starmer is expecting to announce a deal on tariffs with the US today, following reports in The New York Times and BBC that a major trade deal between the US and the UK is likely.
- The sports world isn't the only sector feeling the effects of recent big announcements; even Keir Starmer, a leader known for his focus on politics, finds himself in the limelight due to potential trade deals with the US.
- As the Bitcoin price soars past the $99K mark, one can't help but wonder how the digital currency's price would have been impacted if other known figures, such as UK Prime Minister Kier Starmer, also had a dedicated social media platform similar to Trump's Truth Social.
