- Bitcoin surged past $100K after Trump teased a U.S.-UK trade deal, rallying over 4% to $100,801.04.
- Ether, Solana, and Dogecoin followed Bitcoin’s lead, posting gains of 12%, 9%, and 11% respectively.
- Despite the surge, Bitcoin faces resistance at $109,350, with analysts warning of a possible trading range between $70K and $109K.
Bitcoin made a dramatic comeback on Thursday, rocketing past $100,000 for the first time since February. The flagship crypto was up over 4%, trading at $100,801.04, according to Coin Metrics. The surge kicked off overnight after President Trump hinted at a major U.S.-UK trade deal, and momentum kept building as the announcement unfolded. Stocks rallied too, with the Dow jumping nearly 400 points.
Antoni Trenchev, co-founder of Nexo, called Bitcoin’s move a “bouncebackability” moment. “Not only has Bitcoin reclaimed $100K, but it’s reminding everyone why it’s the ultimate comeback asset,” he said. With investor confidence in U.S. markets wavering, Bitcoin’s perceived safe haven status is getting a fresh look, especially as the Trump administration plays it hot and cold on tariffs.
Crypto Rally Picks Up Steam
Bitcoin’s rise seems to be pulling the broader crypto market up with it. Ether jumped 12%, Solana’s token gained 9%, and Dogecoin shot up 11% as risk appetite surged. Since April 3, the day after Trump first floated his tariff policy, Bitcoin’s up 16%. For comparison, spot gold has climbed just 6%, while the S&P 500 remains mostly flat.
Eyes on $109K — Trenchev’s Cautious Optimism
Despite Bitcoin’s surge, Trenchev says it’s not out of the woods yet. “The real test is $109,350 — that’s the January high,” he said. “If it can’t break that, we’re still stuck in this trading range between $70K and $109K.”
Still, the rebound from last month’s low of $74,000 has been impressive. “The retaking of $100,000 must go down as one of Bitcoin’s more formidable feats,” Trenchev added. “It’s a classic case of buying peak fear and coming out on top.”
