The cryptocurrency market experienced a significant surge on May 8, 2025, with Bitcoin surpassing the $100,000 mark for the first time since early February. Ethereum also saw notable gains, climbing over 6% to exceed $2,000. Several factors contributed to this bullish momentum: 

1. U.S.-U.K. Trade Agreement

The announcement of a comprehensive trade deal between the United States and the United Kingdom boosted investor confidence across global markets. This optimism extended to the crypto sector, as the agreement signaled a potential easing of trade tensions. 

2. Federal Reserve’s Interest Rate Decision

The Federal Reserve’s decision to maintain interest rates within the 4.25%–4.50% range reinforced Bitcoin’s appeal as a hedge against inflation and economic uncertainty. 

3. Institutional Adoption and Strategic Reserves

President Trump’s executive order establishing a Strategic Bitcoin Reserve, utilizing forfeited assets held by the U.S. Treasury, underscored the growing institutional acceptance of cryptocurrencies. This move signaled a significant shift in governmental stance towards digital assets. 

4. Technical Market Dynamics

Increased activity from large investors, often referred to as “whales,” and a resurgence in altcoin markets contributed to the overall positive sentiment. Ethereum’s recent Pectra upgrade and renewed institutional interest further propelled its price upward. 

These developments collectively indicate a robust and optimistic outlook for the cryptocurrency market as of May 8, 2025.