Trump Trade Optimism As better market mood drove demand for risk assets, Bitcoin extended its amazing surge on Friday, surpassing the $100,000 mark for the first time. The announcement of a new trade pact with the UK by outgoing U.S. President Donald Trump and indications of possible tariff cuts on China—a move that generated hope worldwide— drove the advances.
After setting a three-month high of $103,885.40 earlier in the session, the biggest cryptocurrency in the world gained almost 4% to $103,280.00 by 09:39 ET (13:39 GMT). Beginning in late April, the surge points Bitcoin for its third straight week of gains, so extending a bullish trend.
Bitcoin Rally Drives on Risk-Based Sentiment
The price spike of Bitcoin matched more general movements in conventional equity markets, which responded favourably to Trump’s trade remarks. Trump reaffirmed a formal trade agreement with the UK in a broadcast speech, thereby implying a notable de-escalation in the continuous U.S.-China trade battle. The New York Post claims that Trump is thinking of lowering taxes on Chinese imports from 145% to 50%, therefore boosting investor confidence in world trade.
Although Bitcoin is not directly related to global trade, its function as a speculative asset causes it to often respond to macroeconomic mood swings. Usually attracted by risk-on market circumstances, cryptocurrencies draw money as investors search for better-yielding prospects.
Markets are also closely observing as U.S. and Chinese officials set to meet in Switzerland this weekend. If these negotiations indicate a softening in the present geopolitical environment, they could help to strengthen sentiment even more.
Further indicating possible economic momentum, U.S. Commerce Secretary Howard Lutnick said that the country plans to finalise hundreds of trade deals in the next month, hence augmenting the upbeat attitude.
Coinbase Profit Expectations, but Retail Trading
The biggest U.S.-based cryptocurrency exchange, Coinbase Global Inc. (NASDAQ: COIN), released conflicting first-quarter statistics on Thursday among the larger crypto frenzy. The company performed rather well in its primary retail trading division even though it failed analysts’ estimates and showed a declining quarterly profit.
Following the announcement of the earnings, Coinbase shares dropped about 3% in after-hours trading as investors responded to more than projected running costs. On the other hand, a 17.3% rise in transaction income offered a benefit since it indicated ongoing involvement of retail traders.
Significantly strategically, Coinbase also revealed its $2.9 billion acquisition of Deribit, a cryptocurrency derivatives platform. With a mix of cash and shares, the agreement is Coinbase’s biggest acquisition to date and indicates its intention to venture more into the quickly expanding crypto derivatives market.
Ethereum Soars as Altcoins Participate in Rally
With Ethereum (ETH) leading advances among altcoins, Bitcoin’s strength helped elevate the whole cryptocurrency market. After the much awaited Pectra upgrade, a substantial technical revamp and the most important update since the 2022 Merge, ether jumped almost 20% to $2,350.92.
The improvement is likely to increase Ethereum’s energy efficiency and scalability, hence enhancing its appeal to investors and developers both.
Other altcoins came second. Polygon (MATIC) surged 12%; XRP, Solana (SOL), and Cardano (ADA) saw gains between 8% and 11%. Strong success of the altcoin market shows growing investor interest in blockchain systems with practical applications and smart contract capability.
Meme currencies took part in the spike too. Reflecting increased demand in high-volatility assets amid optimistic attitude, Dogecoin (DOGE) rose approximately 13% while the politically themed $Trump token climbed over 18%.
Markets for Crypto Ride Macro Tailwinds
Macroeconomic events seem to be mostly responsible for the recent surge of the crypto trading . After a rather slow first quarter, digital assets are gathering speed as risk appetite returns to the markets.
Major acquisitions like Coinbase’s Deribit transaction and the ongoing expansion of crypto-oriented investment products indicate institutional curiosity in crypto as well.
Ethereum’s Pectra update might, meantime, represent a turning point for altcoin infrastructure, hence inspiring a fresh wave of distributed application development and blockchain innovation.
About ready to profit on the crypto comeback?
Tracking Bitcoin, evaluating Ethereum’s upgrade, or monitoring Coinbase (COIN) earnings—the crypto market is alive with activity and potential. ProPicks AI is your go-to tool for AI-powered stock choices; keep ahead of the market. ProPicks found several winners in 2024: two stocks increased over 150%, while others enjoyed double-digit increases. Would like to know whether COIN or another cryptocurrency is on the list? The moment to learn is right now.
