Bitcoin Hits $103,000 After US-UK Trade Deal, Coinbase Acquisition Boosts Market

Bitcoin surged past $100,000 on Thursday for the first time since February, driven by a new trade agreement between the United States and the United Kingdom. The cryptocurrency reached a high of $103,000, marking a significant recovery from its recent lows. The surge was also influenced by Coinbase's announcement of acquiring options platform Deribit for $2.9 billion, which boosted sentiment in the sector. The trade deal, announced by President Donald Trump, aims to reduce tariffs and increase market access between the two nations. This agreement is seen as a step towards easing global trade tensions, which has contributed to the bullish sentiment in the cryptocurrency market. Institutional investor inflows into bitcoin exchange-traded funds and expectations of a new record high, as suggested by Standard Chartered, have further fueled the rally. Other cryptocurrencies also experienced gains, with Ether rising over 14% and other tokens like Solana and Dogecoin also showing strong performance. The market's positive reaction was further bolstered by the overall rally in U.S. stocks, with the Dow Jones Industrial Average gaining 520 points.