After a month of volatility and uncertainty in the US stock market, the dark clouds seem to shatter for Bitcoin as Trump announced a trade deal with the United Kingdom. The cryptocurrency company showed a surge above $102,000, touching its highest level since late January.
On Wednesday, Bitcoin also showed a hike of $98,000 after the Federal Reserve announced to keep the interest rates unchanged. After taking over the Oval Office, Trump insisted that the Federal Reserve cut the interest rates. However, the central bank committee members declined.
Bitcoin Fell after Trump Tariffs
Following Trump’s announcement of Liberation Day tariffs on April 2, Bitcoin fell as low as $75,000 due to uncertainty on Wall Street. Trump announced to impose reciprocal tariffs on trading partners. Soon, the US president gave a period of relief to countries excluding China.
As Bitcoin regained its market value, Bernstein analyst Gautam Chugani apprised that approximately 80 companies have adopted the Bitcoin standard. It shows that the largest cryptocurrency company has inspired other companies to adopt its model.
Notably, Bitcoin is up 8% according to year to date index.
