0958 ET - Bitcoin is drawing nearer to the $100,000/coin threshold it first breached late last year, fueled by excitement over the trade deal President Trump is expected to announce between the U.S. and UK this morning. But traders should prepare for the rally to fizzle, says Nic Puckrin of the Coin Bureau. "It's quite likely the announcement will be lacking any concrete details, setting out a general framework for a deal that will take months to materialize, which could be anticlimactic," says Puckrin in a note. He also warns that BTC volume is light, making it more exposed to sharp moves in trading. Bitcoin is trading at $99,189.62 a coin, up 2.3% in the past 24 hours, according to data from CoinMarketCap. (kirk.maltais@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 09:58 ET (13:58 GMT)
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