Bitcoin zoomed nearly $100,000 early Thursday as President Donald Trump said a tariff contract with a “very respected country” would soon be announced.
Trump will hold a “major” trade contract press conference at 10am.
The identity of the countries involved remains unknown. Still, some reports say that UK easing tariffs are believed to ease inflationary pressures and improve the context for investing in crypto, technology and other high-beta assets.
Bitcoin has earned over 5% in the last 24 hours, extending its weekly rally as macroeconomic conditions improve.
The combination of lower bond yields, weakening of the dollar, and renewed facility flows into spot Bitcoin ETFs will drive upward momentum.
The announcement comes amid growing political pressure on US leaders to counter China’s growing influence and revive domestic manufacturing. Although the details remain completely, customs rollbacks can quickly support the price of risky assets.