Bitcoin Price Crosses $100,000 for First Time Since February Following U.S.-U.K. Trade Deal — Barrons.com

By Mackenzie Tatananni and Elsa OhlenBitcoin surpassed $100,000 for the first time in three months after President Donald Trump unveiled the first trade deal since his Liberation Day tariff announcement.The world's largest digital currency has risen 5.3% over the past 24 hours to $101,293, according to CoinDesk.Other cryptos were rallying as well. Ether surged 15%, XRP gained 7.3%, and Solana was up 11%.The benchmark stock market index, the S&P 500, rose 1.4%.The gains in cryptos and stocks came after Trump announced a "breakthrough" trade agreement between the U.S. and the U.K., the first of its kind since the president unleashed a barrage of so-called reciprocal tariffs on U.S. trading partners in April.While the announcement was light on details, Commerce Secretary Howard Lutnick said the deal would increase imports of U.S. agricultural products like ethanol, beef, and machinery.Trump had confirmed the deal in a post on Truth Social earlier Thursday. "The agreement with the United Kingdom is a full and comprehensive one," he wrote. "Many other deals, which are in serious stages of negotiation, to follow," he added.Cryptos typically respond to macro events in the same way as other risk assets do. They drop when the economic climate sours or during times of increased market uncertainty, and vice versa. High tariffs could hit corporate profits and increase inflation, and the lack of clarity around the size of the levies has made investors nervous.Keeping interest rates steady as expected Wednesday afternoon, Federal Reserve Chair Jerome Powell cited "extremely elevated" uncertainty around the economy and the impact of potential reciprocal tariffs.Clarity around tariffs, be it through trade deals or de-escalation with China, appears to be just what Bitcoin needed. It remains to be seen whether the crypto can rise even higher.Write to Mackenzie Tatananni at [email protected] and Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.