By Elsa Ohlen
Bitcoin was nearing the psychological important level of $100,000 for the first time in three months as the first trade deal, since President Donald Trump's Liberation Day tariffs announcements, appeared imminent.
The world's largest crypto is up 2.3% to $99,284 over the last 24 hours, according to CoinDesk data.
Ether rose 4.2% and XRP gained 1.9% while futures tracking the S&P 500 were up 0.8%.
Trump is expected to announce a trade deal framework with the U.K. Thursday, The Wall Street Journal reported Trump teased the announcement in a post on Truth Social, saying it concerns a "major trade deal with representatives of a big, and highly respected country." He said a news conference would take place Thursday at 10.00 Eastern time.
Cryptos typically respond to macro events in the same way as other risk assets do. They drop when the economic climate sours or during times of increased market uncertainty, and vice versa. High tariffs could hit corporate profits and increase inflation, and the lack of clarity around the size of the levies has got investors nervous.
Keeping interest rates steady as expected Wednesday afternoon, Federal Reserve chair Jerome Powell cited "extremely elevated" uncertainty around the economy and the impact of potential reciprocal tariffs.
Clarity around tariffs, be it through trade deals or de-escalation with China, could push Bitcoin to $100,000 for the first time since early February.
Write to Elsa Ohlen at elsa.ohlen@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
May 08, 2025 05:25 ET (09:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。