Bitcoin (BTC) started the new week at $94,000, then approached $100,000 with increasing optimism. Bitcoin's rally first began on Wednesday on news of renewed US-China trade talks, boosting overall market sentiment. Apart from the US-China talks, US President Donald Trump said in a post he shared on Truth Social yesterday that “a significant trade agreement with a great and very respected country will be announced on May 8th.” The New York Times reported that this country would be England, citing three people familiar with the country. At this point, Bitcoin and altcoin investors are expecting a possible trade deal with the UK to be announced and BTC to exceed $100,000 and potentially break a new record following this announcement. Altcoins Are Also Rising! While altcoins accompanied the rise in Bitcoin, Ethereum (ETH) exceeded $ 1,900 after a long time. Popular altcoins such as Solana (SOL), Dogecoin (DOGE) and SUI also experienced increases of 5%-10%. According to Coinglass data, the rise left investors who were expecting a decline in the wrong place. In the last 24 hours, $296.7 million worth of leveraged transactions were liquidated. $84.2 million worth of long positions and $212.7 million worth of short positions were liquidated. While $113 million was liquidated in Bitcoin and $65 million in Ethereum, 108,327 investors liquidated in the last 24 hours. The largest liquidation occurred in the BTC/USD trading pair on Binance. $100,000 Expected! Many Bitcoin investors and analysts expect a rally above $100,000, saying that this rise is due to speculation around the trade deal that Trump will announce today. At this point, FOMO21 co-founder Neil Jacobs said in his post from the X account that the rise in Bitcoin was mainly due to the speculation created by Trump's announcement. Renowned analyst Anthony Pompliano said the upcoming trade deal “means we have a better chance of reaching all-time highs in 2025.” *This is not investment advice. Continue Reading: Bitcoin and Altcoins Are Rising: $100,000 is on the Doorstep for BTC! So What is the Reason for the Rise, Will It Continue? Analysts Explained!
