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Bitcoin reclaims $100K as Trump-UK trade deal fuels crypto rally; memecoins surge
The crypto rally was triggered by President Donald Trumpโs announcement of a new US-UK trade framework, which sent Bitcoin and other digital assets sharply higher.
Bitcoin Magazine
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8:52 PM ยท May 8, 2025
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According to CoinMarketCap, Bitcoin surged more than 4% to trade at $100,857.41, reflecting renewed bullish momentum in the flagship cryptocurrency.
The move began overnight after Trump teased a forthcoming trade agreement with the United Kingdom, which was later confirmed, sparking gains in stocks, commodities, and crypto markets.
Altcoins, memecoins and equities jump
Equities also joined the rally, with the Dow Jones Industrial Average jumping nearly 400 points.
Shares of Coinbase and MicroStrategy, both closely tied to Bitcoinโs market performance, climbed around 5%.
Altcoins, which have lagged behind Bitcoinโs rally for much of 2025, staged a strong comeback.
Ether rose 12%, Solanaโs native token added 9%, and Dogecoin spiked 11% โ signaling broad-based enthusiasm returning to the digital asset space.
Since April 3, the day after Trump unveiled a controversial tariff proposal that temporarily shook investor confidence, Bitcoin has rallied approximately 16%.
Over the same stretch, gold has gained 6%, while the S&P 500 remains largely flat, reinforcing Bitcoinโs role as a leading risk-on asset in todayโs macro environment.
The memecoin sector is also experiencing renewed investor appetite.
With Bitcoinโs bullish breakout, speculative tokens are surging in tandem, reversing the bearish mood that dominated much of the first quarter of 2025.
Trading volumes in memecoins have doubled in the past 24 hours, with sector-wide gains approaching 10%.
Top performers in the memecoin category include Mog Coin (MOG), Pudgy Penguins (PENGU), Brett (BRETT), and Official Trump (TRUMP), all of which are exhibiting breakout patterns and sharp rebounds.
The rally reflects a resurgence of speculative interest, particularly among retail traders capitalising on momentum-driven assets.
This latest leg up in crypto markets underscores how quickly sentiment can shift, especially in volatile sectors like memecoins.
As Bitcoin holds firmly above the $100,000 level, analysts suggest continued upward potential, especially if institutional flows and risk appetite remain elevated in the coming weeks.
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