#BTCBackto100K Bitcoin reaches $100,000 after Trump announces a major trade agreement

The breakout gained momentum as Federal Reserve interest rates remained stable and President Trump announced positive progress in tariff agreements with several countries.

Today, Trump announced the first agreement since his administration launched the broad tariff program last month. The U.S. president stated that his government reached an agreement with the United Kingdom, and that several other agreements are in their final stages.

A Reuters report indicates that the agreement will reduce tariffs between the U.S. and the UK on steel and automobiles, alleviating inflation fears in the supply chain that have affected risk assets since the tariff impact.

Risk appetite extended to cryptocurrencies, with over $492 million in short positions liquidated on derivatives platforms in the last 24 hours, according to data from CoinGlass.