May 8 (edited) • 🧠|Crypto/A.I. Trading
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Bitcoin’s latest surge past $100,000 was driven by a combination of political, institutional, and macroeconomic factors.
Some in the community have linked Bitcoin’s recent bullish move to the potential trade deal between the U.S. and the U.K., which was hinted at by Trump in a Truth Social post on May 7.
Vincent Liu, Chief Investment Officer at Kronos Research, told Cointelegraph:
“After Trump hinted at the possibility of a major trade agreement with the U.K., Bitcoin hovered around $100,000, a key psychological level for traders.”
Bitcoin’s dominance, its share of the overall cryptocurrency market, has been steadily rising over the past year. When BTC first broke the $100,000 mark in December 2024, its dominance stood at 52%. By January 2025, it had increased to 54%.
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