Bitcoin has made a dramatic return to six-figure territory and reclaimed its $100k milestone for the first time since January 2025. On 8 May 2025, BTC surged 4.2% from an intraday low of $95,967. As optimism returns to the crypto landscape, Bitcoin’s recent push towards $100k can be credited to bullish macroeconomic signals, including a landmark US-UK trade agreement announced by US President Donald Trump. Importantly, US state Arizona approved a landmark crypto reserve law for state-managed Bitcoin fund.
Arizona officially enacted House Bill 2749 on Thursday, 8 May 2025. While Arizona is now committed to building a Bitcoin reserve, Texas is expected to follow closely.
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Furthermore, despite pressure for cuts, the Federal Reserve held interest rates steady. This gave a fair boost to Bitcoin, which has been showing strength for weeks now. Although the Fed didn’t cut rates, economists expect a rate drop in June 2025. Meanwhile Trump urged Jerome Powell and the FOMC to lower rates, citing cooling inflation and reduced need for high borrowing costs.
Notably, Bitcoin first breached the $100k mark in December of last year, alongside Trump’s victory. BTC went all the way up to $109k before its trajectory was interrupted by factors including Trump’s tariffs and the global trade war.
Beyond immediate events, ongoing progress in the US and global crypto regulation and the emergence of strategic Bitcoin reserve initiatives are seen as supportive of long-term growth. Is $110k next for BTC?
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However, while Bitcoin enjoys renewed dominance, the broader altcoin market has struggled to keep pace.
DISCOVER: Top 20 Crypto to Buy in May 2025
On 8 May 2025, a Reuters report confirmed the US-UK trade deal, where Trump and the British Prime Minister Keir Starmer announced a “breakthrough deal” on trade.
Cutting down the infamous Trump’s tariffs, the trade deal includes a 10% tariff on goods imported from the UK while Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to US goods.
The post Bitcoin Breaches $100K As US-UK Sign Trade Deal And Arizona Approves Crypto Reserve Law appeared first on 99Bitcoins.
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