On Thursday, May 8, 2025, the price of Bitcoin ($BTC ) surged sharply, breaking back above the psychological level of $100,000 for the first time since February. This increase reflects a strong bullish sentiment in the crypto market, driven by several key factors.

Factors Driving the Increase in Bitcoin Price

• US-UK Trade Deal

The announcement of a trade deal between the United States and the United Kingdom by President Donald Trump and Prime Minister Keir Starmer provided a positive boost for the market. This deal eased global trade tensions and increased investor confidence in riskier assets like Bitcoin.

• Optimism Towards US-China Talks

The planned meeting between senior US and Chinese officials in Geneva this weekend adds to the positive sentiment.