#BTCBackto100K Bitcoin just made a comeback tonight, surpassing the $100,000 mark for the first time since February 2025. Currently, Bitcoin is trading around $101,325, up about $4,956 (equivalent to 5.14%) compared to the previous session.

The main reasons for Bitcoin's strong increase:

US-UK trade agreement: President Donald Trump has just announced a new trade agreement with the United Kingdom, creating a wave of optimism in the financial markets and boosting risk assets like cryptocurrencies.

Expectations of interest rate cuts: The market is expecting the US Federal Reserve (Fed) to cut interest rates in the near future, which is generally beneficial for assets like Bitcoin.

Positive market sentiment: Bitcoin trading volume in the past 24 hours has surged to $76 billion, indicating that capital is flowing strongly into the market.

Short position liquidations: More than $118 million worth of short Bitcoin positions have been liquidated in the past 24 hours, contributing to pushing the price higher.

Upcoming outlook:

With the current upward momentum, many analysts believe that Bitcoin could be heading towards new highs, even surpassing the historical peak of $109,000 set in January 2025. However, some technical indicators like the RSI are in overbought territory, suggesting the possibility of a short-term correction before continuing the upward trend.