FX.co ★ Bitcoin Surges Past $100K

Bitcoin experienced a robust 9% increase this week, surpassing the significant psychological barrier of $100,000 for the first time since early February. This upward movement was catalyzed by US President Donald Trump's announcement of a tentative trade agreement with the United Kingdom, a significant step following the extensive tariffs imposed by the US last month. Trump hinted at the possibility of "many other deals" and indicated potential easing of tariffs on China, contingent on the outcomes of upcoming trade negotiations set to take place this weekend in Switzerland.

Contributing to the optimistic market sentiment, two US states passed laws allowing for the establishment of strategic bitcoin reserves. Furthermore, the federal government confirmed that US banks have the authority to "responsibly" engage in cryptocurrency trading on behalf of their clients and may delegate cryptocurrency trading and custody services to reliable third-party providers. These developments enhance the perception of bitcoin as an evolving asset class, attracting growing institutional interest and offering greater regulatory clarity.