Bitcoin Close To $100,000, Ethereum, XRP, Dogecoin Pump As Trump Touts Trade Deal With The UK

Benzinga
05-08

Major cryptocurrencies rallied across the board following President Trump’s announcement of a trade deal with the United Kingdom.

CryptocurrencyPrice   Gains +/-
Bitcoin BTC/USD$99,520.02+2.6%
Ethereum ETH/USD$1,949.30+6.3%
Solana SOL/USD$153.93+4.3%
XRP XRP/USD$2.20+3.1%
Dogecoin DOGE/USD$0.1833+5.8%
Shiba Inu SHIB/USD$0.00001342+4.8%

Notable Statistics:

  • IntoTheBlock data shows Bitcoin large transaction volume and daily active addresses increased by 2.3% and 8.7% respectively in a single day. Transactions greater than $100,000 increased from 9,668 to 10,628. Driven by recent optimism, around 97% BTC holders are in profit.
  • Coinglass data shows crypto total short liquidations at $239 million, the highest since April 22, while long liquidations ($20.2 million) are at their lowest since April 19.
  • Trader Christiaan Defi highlighted a new peak in cumulative Bitcoin ETF inflows at $40.6 billion, the highest ever.
  • Crypto chart analyst Ali Martinez pointed out that whales booked profits by selling more than 60,000 BTC to capitalize on the recent price surge.

Trader Notes: Martinez flagged a major resistance at $101,673, with 81,910 BTC held at that level. Strong support lies at $94,719, where 195,320 BTC were accumulated.

In another X post, Martinez confirmed Ethereum has broken past prior resistance at $1,860, where over 4.5 million wallets held ETH. He expects ETH to rally.

CryptoQuant analysts warn Ethereum is deeply undervalued compared to Bitcoin — a historically bullish signal, but caution remains due to supply pressure, weak demand and flat activity which could hamper the rebound.

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Trader Mags predicts XRP to hit $2.80, noting favorable structure.

While CW predicts Solana to spike to $270 if it breaks through the sell wall at $270, Trader Tardigrade points to a breakout in Dogecoin's RSI, calling its uptrend "programmed."

A Texas bill to create a Strategic Bitcoin Reserve cleared a key House committee and now heads to a floor vote.

In Arizona, the governor established a Bitcoin and Digital Assets Reserve Fund using unclaimed digital property.

New Hampshire also made headlines, becoming the first state to legally authorize public fund investments in Bitcoin and other approved digital assets.

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Read Next:

  • Bitcoin’s Key Level Is $96,500, Analyst Warns, But Here’s What Could Trigger A Breakdown

Image: Shutterstock

$BTCBitcoin
$99439.202.45%

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Momentum
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$DOGEDogecoin
$0.18316.41%
$ETHEthereum
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$SHIBShiba Inu
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$SOLSolana
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$XRPRipple
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