Bitcoin is closing on $100,000 after US President Donald Trump teased a major trade deal that’s set to be announced today, likely with the UK.

In a Truth Social post, Trump promised a “BIG NEWS CONFERENCE” at 10 a.m. from the Oval Office, where he said he will unveil a “MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!”

The post sparked a surge in crypto markets, propelling Bitcoin past $99,000 for the first time in nearly two months.

Though Trump didn’t name the country, the New York Times reported that it would be the UK, and the BBC reported that UK Prime Minister Kier Starmer would make an announcement today about a deal with the US on tariffs.

Bitcoin Breaks Above $99K For The First Time Since Mid-Feb

Bitcoin is trading at more than $99,500 as of 4:13 a.m. EST, the first first time BTC has risen above $99K since Feb. 21, according to TradingView. 

Daily chart for BTC/USD (Source: TradingView)

The rest of the top 10 largest cryptos by market cap followed Bitcoin’s lead. Altcoin king Ethereum managed to break above $1,900 after a 5.1% surge, while Dogecoin was the top-performer on the list with a gain of 5.3%.

US And China Trade Negotiators To Meet In Switzerland

Trump teased the ”big” trade deal after earlier news that China and the US will meet in Switzerland this week to discuss tariffs had buoyed market sentiment.

Bitcoin has surged almost 5% in the past week and 26% in the last month as Trump pulled back from the extremes of his trade war against most of the rest of the world.

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