Bitcoin Surges Back to $100K, Poised for Weekly Gains

Bitcoin (
BTC-USD
) continues to enjoy an upward ride and is on course to rise 8.8% on a weekly basis, after it jumped past the $100K mark.

The world’s largest cryptocurrency,
climbed
After surpassing the $100K milestone during Thursday’s mid-morning trades for the first time in roughly three months, it was fueled by increased market confidence following U.S. President Donald Trump’s announcement of a “significant trade agreement” with the U.K.

“Reducing tariff levels could decrease inflation risks and enable the Federal Reserve to lower interest rates in June, which would boost market liquidity and direct more capital toward cryptocurrency,” explained Jeff Mei, COO of BTSE.

The new
U.S.-U.K. trade
The agreement will offer enhanced access for billions of dollars worth of American goods, encompassing agricultural items like beef and ethanol, along with “practically everything” else, according to President Trump at a press briefing.

Traders were increasingly optimistic about the possibility of a trade agreement between the U.S. and China, anticipating that high-ranking American and Chinese trade representatives would hold talks on Saturday in Geneva, Switzerland.

Bitcoin (
BTC-USD
) remained at the $90K level earlier in the week but saw a significant jump on Thursday as it approached $104K.

On Friday, the crypto asset temporarily surpassed $104K.

“President Trump’s positive perspective on this weekend’s trade discussions with China is alleviating concerns about a worsening trade conflict, which is prompting investors to reallocate funds back into assets such as cryptocurrencies,” Mei noted.

According to Augustine Fan, Head of Insights at SignalPlus, the market didn’t pick up many fresh insights, but risk assets traded positively as investors felt reassured by the Federal Reserve’s economic evaluation. They remain convinced that interest rate cuts will likely be announced sooner rather than later.

On Wednesday,
the Fed
maintained the interest rates at their current levels, which was broadly anticipated. The cryptocurrency Bitcoin saw minimal impact from this choice.

Bitcoin, viewed as a speculative investment, has shown considerable resilience despite several turbulent months for stocks, which have been affected by trade tariffs and fears of an impending economic downturn.

Remember that Bitcoin hit its peak at $109.1K on January 20, 2025, coinciding with the beginning of Donald Trump’s second presidential term in the United States.

“Bitcoin’s market share has reached a four-year peak, igniting discussions regarding its status as a sanctuary investment,” according to an analysis from Seeking Alpha.
Dean Popplewell
said.

“Bitcoin exchange-traded funds (ETFs) are experiencing higher investment flows, notably BlackRock’s IBIT, which suggests a possible upward trend. However, cryptocurrency regulations continue to be intricate, as illustrated by some states such as New Hampshire advancing their policies while others lag behind,” Popplewell noted.

More Notable News

The Securities and Exchange Commission submitted a
settlement agreement
That established a framework for settling the commission’s civil enforcement case against them, as part of an agreement made with defendants Ripple Labs, Bradley Garlingshouse, and Christian A. Larsen.

Meta Platforms
(
META
It is currently negotiating with multiple cryptocurrency firms to launch stablecoins for handling payouts and has additionally appointed a vice president of product who has expertise in cryptography to assist with these conversations.

Efforts to bring federal
oversight
The development of the stablecoin market hit a roadblock in the Senate on Thursday as Democrats opposed moving forward with the legislation due to insufficient wording and the absence of regulations concerningcrypto holdingsby public servants.

Coinbase Global (
COIN
) has agreed to
acquire
Deribot, the globe’s biggest exchange for Bitcoin trading (
BTC-USD
) and Ether (
ETH-USD
) choices, at around $2.9 billion, with the aim of taking over the crypto derivatives sector.

Robinhood Markets
(
HOOD
They are developing a blockchain system aimed at enabling European-based retail investors to trade U.S. securities such as stocks, as reported in a Wednesday press release. The platforms being considered for this possible collaboration include Arbitrum and Solana.

New Hampshire
vaulted
on Tuesday, ventured into uncharted territory by becoming the first U.S. state to approvecrypto investments for its public funds.

Stock and crypto
retail trading platform called eToro (
ETOR
On Monday, it was reported that some of its shareholders are planning to raise up to $500 million via an initial public offering in the U.S., with the aim of achieving a valuation as much as $4 billion.

Riot Platforms (
RIOT
) said its
April Bitcoin
The production volume stood at 463 units, marking a decrease of 13% compared to the previous month’s 533 units but showing an increase of 23% over the 375 units produced in April 2024.

MARA Holdings (
MARA
) announced that in
April
The firm generated 705 Bitcoins this period, as opposed to 829 in the previous month.

Crypto Moves

Bitcoin (
BTC-USD
)

up 1.9%

to $103.1K as of 2:13 PM on Friday. Ether (
ETH-USD
) was

up 14.3%

to $2.3K. Doge (
DOGE-USD
) was up

7.6%

.