Trump Effect: Bitcoin Approaches Historical High Again.

Bitcoin Approaches $100,000 Mark

Bitcoin has approached the $100,000 mark for the first Time since February, as U.S. President Donald Trump prepares to announce a trade deal with the United Kingdom.

The largest digital asset rose 2.9% to $99,621 on Thursday, while most major tokens also showed gains. Ethereum (Ether) — the second-largest token — increased by 8% to $1,943, Bloomberg reports.

Bitcoin hit a record high of $109,241 on January 20, bolstered by optimism regarding Trump's plans to create a favorable environment for U.S. crypto operators by rolling back strict measures implemented by the previous administration under Joe Biden. However, Trump's announcement on tariffs has since had a negative impact on cryptocurrencies. Bitcoin has fallen about 32% from its all-time high to below $75,000 in early April.

Psychologically significant round numbers, such as the $100,000 mark, 'often trigger short-term profit-taking,' noted Rachel Lucas, crypto analyst at BTC Markets, adding that 'after Bitcoin returns to this level, a consolidation period may occur as traders realize profits.'

Ethereum has recently experienced stagnation due to concerns about its direction and increasing competition among blockchain operators. It was believed that a recent software upgrade aimed at enhancing the competitiveness of the Ethereum network had little impact on the token’s price, but Thursday's jump raised it to the highest intraday level since April 2.

Analysis:

The announcement by the U.S. President of a trade deal with the United Kingdom contributed to the increase in Bitcoin's price. This is an example of how political decisions can affect the cryptocurrency market. It is also evident that psychologically significant numbers can lead to short-term profit-taking and subsequent market consolidation. The price movement of Ethereum also demonstrates how technical changes within its own network can impact the token's price.