Bitcoin Surpasses $100,000, Boosting Crypto Stocks
By Andrew Kessel
Published: May 08, 2025 | 12:42 PM EDT
In a significant turn of events, Bitcoin has surged past the $100,000 mark for the first time in three months, influencing a positive shift in several cryptocurrency-related stocks on Thursday. The price of Bitcoin recently reached approximately $101,000, climbing from an overnight low near $96,000, following the announcement of a new trade agreement between the United States and the United Kingdom.
Trade Agreement Sparks Market Optimism
The surge in Bitcoin’s price is largely attributed to a trade agreement announced by President Donald Trump, who also indicated that further deals between the U.S. and other countries were in the pipeline. During his remarks, Trump expressed his confidence in the upcoming trade discussions with Chinese officials scheduled for this weekend. Investors welcomed these developments, which helped lift the mood across risk assets, contributing to a broader rally in U.S. stocks.
As a result of this positive market sentiment, shares of prominent cryptocurrency exchange, Coinbase, rose by 6% in early-afternoon trading. Meanwhile, Strategy, the company previously known as MicroStrategy and a significant Bitcoin investor, saw its shares increase by 7%. The performance of bitcoin miners was no less impressive, with Riot Platforms and Mara Holdings witnessing rises of 7% and 8%, respectively.
Bitcoin’s Recent Performance
Historically, Bitcoin reached a record high of around $109,000 just ahead of Trump’s inauguration in January, buoyed by optimistic expectations regarding favorable policies for the cryptocurrency market from the new administration. Since then, various factors, including concerns about tariffs proposed by Trump’s administration, caused Bitcoin to stumble alongside the stock market. However, with this recent rally, Bitcoin has rebounded approximately 33% from an early-April low of around $76,000. The recent reprieve in Bitcoin prices and supportive market conditions highlight a growing optimism within the cryptocurrency sector. The rally could further strengthen investor confidence as they await broader economic developments related to trade policies and their implications for the overall market.
Conclusion
As Bitcoin continues to regain its upward trajectory, its influence extends beyond the cryptocurrency market, positively impacting a range of associated stocks. This resurgence reflects investor sentiment around trade agreements and overall economic stability, signaling a potential shift in risk appetite moving forward. Stakeholders in both the cryptocurrency and traditional equity markets will be closely monitoring upcoming discussions and further developments in trade negotiations over the weekend.
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