Bitcoin started the new week at $94,000, then moved close to $100,000 with increasing optimism. The Bitcoin rally began on Wednesday with news of new US-China trade negotiations, boosting overall market sentiment.
In addition to negotiations between the US and China, US President Donald Trump shared in a post on Truth Social yesterday that "a significant trade deal with a great and highly respected country will be announced on May 8."
The New York Times reports that the country will be the UK, citing three people familiar with the matter.
At this time, investors in Bitcoin and altcoins are anticipating a potential trade deal with the UK to be announced, and BTC will exceed $100,000 and possibly break new records after this announcement.
Altcoins Are Also Rising
While altcoins are rising alongside Bitcoin, Ethereum (ETH) has surpassed the $1,900 mark after a long time. Popular altcoins like Solana (SOL), Dogecoin (DOGE), and SUI have also increased by 5%-10%.
According to Coinglass data, the rise has led investors to expect a downturn in the wrong place. In the past 24 hours, $296.7 million worth of leveraged trades have been liquidated. $84.2 million in long positions and $212.7 million in short positions have been liquidated.
While $113 million has been liquidated in Bitcoin and $65 million in Ethereum, 108,327 investors were liquidated in the past 24 hours. The largest liquidation occurred in the BTC/USD trading pair on Binance.
Expected to Reach $100,000
Many Bitcoin investors and analysts expect the price to rise above $100,000, stating that this increase is due to speculation surrounding the trade deal that Trump will announce today.
At this point, Neil Jacobs, co-founder of FOMO21, stated in a post from the X account that the rise in Bitcoin is mainly due to speculation generated by Trump's announcement.
Famous analyst Anthony Pompliano stated that the upcoming trade deal "means we have a good chance of reaching an all-time high by 2025."
