Bitcoin surged past the $100,000 mark on Friday, climbing as high as $101,329.97 by midday, with a 4.7 per cent gain on the day. Though still below its January peak of over $109,000, the rebound places bitcoin firmly back in positive territory for the year after a turbulent spring. Ether, the second-largest cryptocurrency, also rallied sharply, jumping over 14 per cent to $2,050.46 — its highest level since March.
The crypto market’s revival comes on the heels of a new transatlantic trade agreement announced by US President Donald Trump and British Prime Minister Keir Starmer. The deal, which adjusts tariffs on US-UK trade, has buoyed broader market sentiment and contributed to risk-on trading across asset classes. Antoni Trenchev, co-founder of crypto platform Nexo, hailed bitcoin’s breach of $100,000 as a “formidable feat,” noting that long-term holders have continued accumulating despite recent profit-taking.
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Bitcoin’s momentum has also been supported by macroeconomic factors, including Trump’s designation of several digital assets as “strategic reserve tokens” — signaling a potential shift toward deeper cryptocurrency integration into the financial system. Meanwhile, institutional inflows into bitcoin-focused ETFs and easing geopolitical tensions have further bolstered investor confidence.
Although bitcoin has gained nearly 20 per cent since late April, ether and other altcoins continue to lag behind. Analysts are now watching closely to see whether bitcoin can sustain this rally and make a fresh attempt at its previous all-time high of $109,000 in the weeks ahead.
