• Bitcoin surged past $100,000 for the first time since February, driven by optimism surrounding a potential US-UK trade deal announcement.
• Trump teased a major deal on Truth Social, triggering risk-on sentiment and a $260 million short squeeze in crypto markets.
• Analysts now target $105,000 next, with $120,000 in sight if the trade agreement eases inflation and boosts global sentiment.

Bitcoin (BTC) finally printed $100,000 on major exchanges for the first time since February, before retreating slightly as profit‑taking set in.

The breakout gathered pace as the Federal Reserve’s interest rates remained stable, and President Trump announced positive developments in the tariff deals with multiple countries.

Donald Trump Signs a Trade Deal With the UK

Today, Trump announced the first deal since his administration’s sweeping tariff program began last month. The US president said that his government reached an agreement with the UK, and several other deals are in the final stages.

The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United…

— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 8, 2025

A Reuters report indicates the agreement will reduce US‑UK duties on steel and autos, easing supply‑chain inflation fears that have dogged risk assets since the tariff shock.

Risk‑on sentiment spilled into crypto, with more than $260 million in short positions liquidated across derivatives venues in the past 24 hours, according to CoinGlass data.

Traders now eye $105,000 as the next resistance. Should Trump’s deal materialize without surprises, bulls argue the path to $120,000 could open quickly