Bitcoin Holds Ground at $102K; XRP, ETH, SOL Push Higher After Trump-UK Trade Boost

Bitcoin steadied above the $100,000 mark on Friday, buoyed by renewed investor optimism following a trade agreement between the US and UK. The world’s largest cryptocurrency hovered near $102,000, as traders welcomed signs of easing global trade tensions.The rally gained momentum after US President Donald Trump and British Prime Minister Keir Starmer announced what they described as a “breakthrough deal” on Thursday. The agreement maintains a 10% tariff on British goods entering the US but includes a reduction in UK tariffs on American imports from 5.1% to 1.8%. Analysts interpreted the move as a signal that Trump may be ready to backtrack on some of the aggressive trade measures that have rattled global markets since his return to the White House earlier this year.JUST IN: $BTC reclaims $100K.Will it test $105K by this week? pic.twitter.com/l8LnUyKbyA— CoinGecko (@coingecko) May 8, 2025Trump’s Trade Softening Boosts Bitcoin, ETH, XRP and SOLThis is the first formal agreement since Trump began imposing tariffs in February, launching what many described as a fresh round of trade hostilities. However, the administration’s recent 90-day pause on new tariffs, aimed at opening room for negotiations, has created optimism among investors hoping for further deals.Bitcoin was not alone in its climb. Ether jumped 16.4% to $2,218, while XRP rose 6.3% to$2.31. Solana also posted a 7.3% gain, trading at $162.07. Analysts attributed the broader crypto rally to both macroeconomic tailwinds and increasing institutional involvement.Bitcoin Still Holds Bullish Trajectory With Geopolitical Risks LoomingStandard Chartered’s Geoffrey Kendrick said risk sentiment no longer drives Bitcoin’s price. “It is now all about flows, and flows are coming in many forms,” he said, pointing to strong buying from institutional players and inflows into spot Bitcoin ETFs. Kendrick added that his earlier target of $120,000 for the second quarter may have underestimated Bitcoin’s momentum.Other experts pointed to the Federal Reserve’s recent decision to hold interest rates steady. James Toledano, chief operating officer of Unity Wallet, said the move has pushed investors to look for alternative assets in an uncertain economic landscape, with Bitcoin being “attractive.”Toledano also noted that the US-UK deal has strengthened confidence across global markets. “The sense is that if President Trump is doing a deal with the UK then this will be rolled out to others soon,” he said. “But this certainly gives us reason for optimism which will foster a risk-on environment that benefits assets like Bitcoin.”While the outlook has improved, risks remain. Ongoing geopolitical tensions, including the recent flare-up between India and Pakistan, could still weigh on market sentiment. For now, however, Bitcoin’s return to six figures has renewed bullish expectations across the digital asset space.The post Bitcoin Holds Ground at $102K; XRP, ETH, SOL Push Higher After Trump-UK Trade Boost appeared first on Cryptonews.