Bitcoin returns to February levels, passes $100,000 per coin

Cryptocurrency yet to return to highs of January

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The price of bitcoin rose past $100,000 (about €88,890) on Thursday for the first time since early February. With a gain of 4.7%, the value topped $104,000 (€92,436) at one point, before rallying around $103,224 (€91,746). This rebound brought the world’s largest cryptocurrency back into positive territory for the year. Though it remains below its record high of more than $109,000 (€96,880) reached in January.

This rise coincided with a trade agreement between the United States and the United Kingdom anounced this week. This indicates a possible easing of President Trump’s global trade tensions.

The agreement between President Trump and British Prime Minister Keir Starmer involved imposing a 10% tariff on British goods imported into the US. Britain, in turn, agreed to lower its tariffs from 5.1% to 1.8%. And to additionally provide more access for US goods. This was the first such agreement since President Trump began a global trade war with numerous tariffs when he took office in January.

Analysts attribute bitcoin’s impressive rebound to several factors. Antoni Trenchev, co-founder of digital asset trading platform Nexo, highlighted the profitability of “buying peak anxiety”. In doing so, he noted that bitcoin was trading around $74,000 as recently as last month. He suggested that strong buying pressure from long-term holders outweighed selling by short-term holders. As a result, the price rose back to its previous highs.

Joel Kruger, market strategist at fintech firm LMAX Group, pointed to institutional investor inflows into bitcoin exchange-traded funds (ETFs), waning geopolitical tensions and Chinese moves to increase monetary stimulus as factors that contributed to bitcoin’s rise.

While the direct impact of tariffs and trade disruptions on crypto markets is limited, sentiment plays a crucial role in this largely speculative sector. Recent improvements in risk appetite have helped bitcoin return to positive territory this year. The focus now shifts to whether bitcoin can hold its price above $100,000 (€88,890).

Business AM

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