Why is the cryptocurrency market rising today?

The cryptocurrency market is rising today, reflecting investor optimism about a potential deal between the US and the UK and the strong technical situation of TOTAL as the price of Bitcoin approaches $100,000.

Key points to remember:

The cryptocurrency market rose 2.5% on May 8, with a market capitalization exceeding $3 trillion for the first time in over eight weeks.

The Fed's stable interest rates and concerns about stagflation are driving Bitcoin to become a store of value.

The anticipated US-UK trade deal and the technical recovery are fueling market optimism.

The cryptocurrency market grew today, with total market capitalization increasing by approximately 2.5% in the past 24 hours, reaching $3.06 trillion on May 8.

Today's increase was led by $BTC and $ETH , which rose by approximately 2.3% and 4%, respectively.

Concerns about “good” stagflation for cryptocurrency assets

The Federal Reserve's decision to keep interest rates unchanged at 4.25%-4.50% on May 7 has reinforced the appeal of cryptocurrencies. Fed Chairman Jerome Powell's speech after the meeting highlighted the increasing risks of stagflation—slow economic growth and persistent inflation—partly due to Trump's tariff policies.

Kobeissi Letter stated on X that: "It seems the Fed sees both inflation and unemployment rates higher in the future," adding:

"They are delaying rate cuts to see which part of their dual mandate will spike further."#uptrend