Bitcoin jumped (BTC-USD) exceeded $ 99,300 (£ 74,786) early Thursday, approaching the milestone of $ 100,000 (£ 75,313), in the midst of optimism surrounding the planned trade agreement of US President Donald Trump with the United Kingdom.
Biggest cryptocurrency By market capitalization has gained more than 2.5%, supported by expectations to reduce prices and improve macroeconomic conditions.
Trump is expected to announce the framework of the British trade agreement at a press conference later Thursday.
In an article on social networks on Wednesday, US President Donald Trump has teased that an announcement of the trade agreement will arrive on Thursday,
He said that the conference concerns a “major trade agreement with representatives of a large and very respected country. The first of many !!!”
Bloomberg reported That, according to people familiar with the issue, the agreement should be with the United Kingdom.
The agreement should include pricing reductions on key sectors such as car and digital services. This would mark the first important trade agreement for the administration since the taxation of Balayage rates on business partners last month.
Find out more: Crypto Live Price
The announcement had a positive impact on the financial markets as well as the cryptocurrency market. American capital indices have displayed pre-commercial gains. Dow future (YM = F) increased by 0.55%, the S&P 500 term contracts (ES = F) up 0.78% and term contracts on the NASDAQ (Nq = f) up 1.09%.
Assets at risk always absorb the implications of Wednesday The decision of the federal reserve to have stable interest rates in a range of 4.25% to 4.5%.
However, Nexo analyst Iliya Kalchev told Yahoo Finance UK that the continuous commitment of the American federal reserve to a quantitative tightening could limit the longevity of any gathering.
“Bond yields, especially alongside side, can be higher in response to sustained runoff, while the US dollar could see a modest strengthening as expectations for a dominant pivot fade,” said Kalchev.
“Risk assets such as cryptocurrencies and growth stocks can benefit from short-term support, although more strict financial conditions remain a medium-term limiting factor.”
Although the complete details of the US-US potential potential trade agreement remain unclear, any decline in prices could give a boost to risky assets, added Kalchev.
The Bitcoin rally takes place even though the federal reserve has removed the previous plans to facilitate the pace of its balance sheet. The tuning of the balance sheet is when the Fed allows some of its obligations to expire without replacing them, which slowly removes the money from the economy to cool things.
