As Trump Hints at a ‘Huge’ Trade Agreement, Bitcoin Moves Toward $100K.

Bitcoin surged toward the $100,000 mark early Thursday after President Donald Trump hinted at the announcement of a major trade deal with a “big, highly respected country.”

Trump is scheduled to hold a press conference at 10 a.m. ET to unveil the deal, which he said will be the “first of many.” Though the country involved has not been disclosed, some reports suggest it could be the United Kingdom. A reduction in tariffs could help alleviate inflationary pressures, which would create a more favorable environment for investments in risk assets such as cryptocurrency and tech stocks.

Bitcoin saw a more than 5% gain in the last 24 hours, continuing its weeklong upward trend amid improving macroeconomic conditions. A mix of lower bond yields, a weaker dollar, and renewed institutional inflows into spot bitcoin ETFs has helped fuel the rally.

The timing of this announcement coincides with rising political pressure on U.S. leaders to take action against China’s growing influence and to boost domestic manufacturing. While full details of the deal are still unclear, any reduction in tariffs could lead to an immediate increase in the prices of risk assets like Bitcoin.