Bitcoin is on the rise again. After being in the red for several weeks due to Donald Trump's tariffs, the cryptocurrency finally managed to find a path to recovery. By the end of April 2025, the price had climbed above $90,000. For a long time, Bitcoin had stagnated below the $80,000 mark, causing concern among investors.
On May 8, Bitcoin once again climbed above $100,000. This is the first time since February that Bitcoin has reached this symbolic threshold. As a reminder, the price of Bitcoin reached $100,000 for the first time in its history last November, on the sidelines of Donald Trump's victory in the US presidential election. Bitcoin is approaching its all-time high of $109,000 set on January 20.
As always, Bitcoin's surge has boosted all digital assets. Ether, whose price has been struggling despite the bull market, has climbed back above $2,200. The total market valuation has settled above $3 trillion.
Donald Trump Announces Historic Deal
To explain Bitcoin's rise, we must once again turn to Donald Trump's latest announcements. On Thursday, May 8, the president announced a major trade deal between the United States and the United Kingdom. This agreement provides for the United Kingdom to demonstrate greater openness to American products, such as "American beef, ethanol, and virtually all the products our beloved farmers produce," Donald Trump assured.
The agreement is also expected to reduce customs duties on certain cars manufactured in Great Britain from 27.5% to 10%. However, the basic 10% tax on all imports has not been canceled. Nevertheless, the agreement marks a major turning point in the customs tax issue. This is indeed the first deal accepted by the Trump administration.
Interviewed by AFP, Stéphane Ifrah, an analyst at the French exchange Coinhouse, believes that there is now "a return of risk appetite", and for risky assets like Bitcoin, "now that the United States appears more reasonable and is concluding agreements with other countries". This is why "cryptocurrencies are rising again."
Towards an easing of Trump taxes?
Also contacted by AFP, Charlie Morris, an analyst at the company ByteTree, assures that "a number of other agreements are likely to follow" the deal with the United Kingdom, signing the easing of customs taxes. Donald Trump also promised that "many other agreements will follow," stating that China and the European Union also want to reach an agreement with the United States. This is excellent news for the global economy, and by extension, for cryptocurrencies. It is even "one more reason to bet on a rise in Bitcoin," summarizes the analyst.
In this context of easing, many investors dream of Bitcoin breaking new records. Interviewed by CoinTelegraph, Ben Caselin, director of marketing at VALR, expects "Bitcoin to reach new highs, beyond $110,000, sooner rather than later." For his part, Vincent Liu, chief investment officer at Kronos Research, believes that "for the rally to continue, the narrative around the trade deal will need to evolve towards concrete progress." The queen of cryptocurrencies is still hanging on Donald Trump's decisions.
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