The price of Bitcoin is nearing the psychologically important price point of $100,000 this morning—a level the cryptocurrency has not seen since early February.
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As of the time of this writing, one Bitcoin is currently trading at over $99,800. That’s up nearly 3% in the last 24 hours and only $10,000 lower than the all-time high that the token reached earlier this year.
Here’s what you need to know about Bitcoin’s most recent approach to six figures.
Bitcoin nears $100,000—again
Bitcoin is currently trading at less than $200 shy of $100,000 per coin as of the time of this writing. The cryptocurrency king hasn’t traded at levels this high since early February, and it has not surpassed the $100,000 mark since the first few days of that month.
While a $100,000 price point of Bitcoin doesn’t have any underlying meaning on a fundamentals level, the passing of the six-figure barrier again will likely signal an important psychological threshold in many investors’ minds.
In late January, just a day before President Trump was sworn in for his second term, Bitcoin traded at an all-time high of over $109,114 per coin. The coin had first crossed the $100,000 threshold back in December 2024, shortly after then-president-elect Trump announced the crypto-friendly Paul Atkins as the new Securities and Exchange Commission (SEC) chair.
Atkins’s appointment was seen as signaling a much more friendly regulatory environment with the new administration. In the days leading up to Trump’s inauguration, Bitcoin continued to rise.
But then came Trump’s “Liberation Day” tariffs in April—and along with the crash of global stock markets, Bitcoin and other cryptocurrencies crashed too. Last month, Bitcoin was trading at less than $75,000 per coin.
Today’s nearly $100,000 price, then, marks a staggering turnaround for Bitcoin from just over 30 days ago. It is up over 30% in the past month and up over 4% in the past five days alone, with the price of the digital asset up nearly 3% in just the last 24 hours.
But what is the reason for Bitcoin’s flirtation with the $100,000 mark today? Trade deals.
Hopes of trade deals boost Bitcoin
Investing.com notes that Bitcoin’s rise to nearly $100,000 in the past 24 hours can be attributed to one main factor: trade deal optimism.