Bitcoin breaks through $99,000 amid Trump's promises

10.05.2025

On the morning of May 8, Bitcoin’s price surpassed the $99,000 mark for the first time. The main driver of the rally was U.S. President Donald Trump’s announcement of plans to implement the “largest tax cut” and finalize a “major trade deal.”According to sources from The New York Times, the deal in question involves the United Kingdom. However, details of the agreement have not yet been disclosed.At the time of writing, Bitcoin is trading at $99,150, showing a 2.4% daily increase. Other top 10 assets by market capitalization are also seeing positive momentum — ranging from 1.3% to 5.1%.In a comment to The Block, BTC Markets representative Rachel Lucas expressed confidence in the potential to test the $100,000 level. According to her, if Bitcoin consolidates above this mark, it could set a new all-time high:“Short-term volatility and profit-taking near round-number resistance levels are expected. At the same time, the broader trend remains constructive,” Lucas noted.The potential trade deal with the UK could be the first step toward revising international trade conditions in favor of the U.S., which is especially relevant following the introduction of so-called “liberation tariffs” in April.This initiative may help reduce the uncertainty cited by the Federal Reserve when it justified its decision to keep the key interest rate unchanged.