Bitcoin Nears $100K on Trade Deal Hopes, But Technical Signals Warn

Bitcoin rose beyond $99,000 as markets awaited a U.S.-U.K. trade deal.

Technical indications suggest resistance around $99,900 and fading momentum.

Analysts caution that the rise may be speculative since the contract may be tentative.

Bitcoin (BTC) temporarily rose beyond $99,000 on Thursday amid optimism about a US-UK trade deal.

The protest followed President Donald Trump's social media tweet teasing a “major trade deal” with a respected foreign partner. U.K. was subsequently recognized as the probable counterpart.

Bitcoin rose 2.9% on the day, moving closer to the crucial $100,000 mark. Ether (ETH) rose over 8% to $1,943.

Despite positive mood, some experts remain cautious. The Wall Street Journal reports that the accord may be a tariff adjustment framework rather than a comprehensive trade agreement. If the announcement lacks policy changes, market euphoria may decrease.

Technological Indicators Point to Resistance
Technically, Bitcoin has various challenges when it enters six figures.

On-chain data suggests that $99,900 may be significant resistance owing to long-term holders profit-taking and early purchasers selling pressure.

Other signs show momentum is fading:

The 14-hour chart's Relative Strength Index (RSI) has not confirmed Bitcoin's current price highs, suggesting a purchasing halt.

In global markets, U.S. stock futures climbed little as the Fed reaffirmed a 4.25%–4.50% rate rise pause.

Despite uncertainties, Fed Chair Jerome Powell said the economy was “still in a solid position.”

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