Bitcoin is once again closing in on six-figure territory—and this time, the fuel seems to be geopolitical rather than technical. A cryptic yet confident post from former U.S. President Donald Trump has sparked fresh speculation across both traditional and crypto markets.
On May 7, Trump took to Truth Social, hinting at a forthcoming “major trade deal” with what he described as a “big and highly respected country.” While he didn’t name names, The New York Times, citing sources close to the matter, confirmed the deal is likely with the United Kingdom and expected to be announced formally on May 8.
Bitcoin Breaks Higher on Hype
Just moments after Trump’s social media post went live, Bitcoin was hovering around $97,759. Since then, the digital asset has climbed steadily, nearing the $100,000 milestone and trading at $99,140 at the time of writing, according to CoinMarketCap.
This rally has not gone unnoticed. Market watchers and crypto influencers have quickly tied the price surge to optimism around the impending deal.
Neil Jacobs, co-founder of FOMO21, suggested on X (formerly Twitter) that Bitcoin’s latest leg upward was largely driven by Trump’s announcement. Crypto investor and media personality Anthony Pompliano echoed that sentiment, stating that the odds of a fresh all-time high in 2025 are rising fast if these kinds of macro tailwinds continue.
All Eyes on $100K—and Beyond
Bitcoiners are keeping a close eye on the charts. BTC’s current all-time high of $109,000 was set on January 20, just hours before Trump’s inauguration. With price action now inching toward $100K again, anticipation is building for a potential breakout.
Pandora CEO Sahib Anandsongvit remarked on the speed of Bitcoin’s rise, noting that it was only a few weeks ago the asset sat near $80,000. BTC was last at that level on April 11, before reclaiming $90,000 territory on April 22. The current move feels to many like a continuation of that momentum—just with some added political spice.
Macro Factors Add to the Mix
Trump’s trade talk came hot on the heels of another market-moving event: the Federal Reserve’s May 7 decision to keep interest rates steady at 4.25% to 4.50%. Trump has repeatedly urged for rate cuts, so the Fed’s firm stance adds another layer of intrigue to his economic positioning—especially with a trade announcement queued up.
It’s not the first time Trump has stirred Bitcoin’s pot. Back on February 1, after he floated the idea of sweeping tariffs on China, Mexico, and Canada, Bitcoin soared past $100,000. While that rally was short-lived, it revealed how sensitive crypto markets are to Trump’s economic narratives.
Bulls in Control—for Now
The sentiment across crypto remains overwhelmingly positive. The Crypto Fear & Greed Index is reading 65, firmly in “Greed” territory, and suggesting investors remain confident. Over the past 24 hours, Bitcoin’s 3% climb has led to nearly $96 million in short positions being liquidated, per CoinGlass data—proof that bears are getting squeezed.
With a major trade deal likely just hours away from being officially announced, and with markets already reacting, Bitcoin traders are bracing for what could be another historic moment. Whether this leads to a new all-time high or a temporary spike remains to be seen—but one thing is clear: political developments are becoming just as important to crypto markets as halvings and hash rates.
