Bitcoin's price surpassed $100,000 for the first time since early February, bolstered by a new trade deal between the US and UK. This agreement, which maintains a 10% tariff on UK goods while lowering British tariffs, marks a significant shift in trade dynamics, considered a potential easing of President Trump's trade war. Alongside Bitcoin's rise, Ether also experienced a surge, gaining over 14%. Analysts suggest that the rebound signals a strong recovery trend, indicating potential for Bitcoin to surpass $109,000 again, fueled by long-term holders continuing to buy.
"The retaking of $100,000 must go down as one of bitcoin's more formidable feats and is a reminder that buying peak fear - just last month bitcoin was languishing around $74,000 - can be exceptionally lucrative."
"The speed of the rebound to $100,000 amid a resumption of risk appetite sends a signal that $109,000 and above are in its sights, as buying from long-term holders - those holding for at least 155 days - more than offsets selling by short-term holders."
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