Bitcoin Nears $94K as Trade Talks Stir Market – Is $100K Next?

Bitcoin has soared again, climbing close to $94,000 this week, as global investors respond to shifting signals from the US on trade tariffs. As of Friday morning, the cryptocurrency was up 0.8%, trading at £75,400 (or $93,269), putting it on track for a weekly gain of nearly 10%.

This bullish momentum comes on the back of expectations that President Donald Trump might ease trade tensions with China and other global partners. The possibility of a softer stance on tariffs appears to have boosted risk sentiment in the markets—and Bitcoin is reaping the benefits.

Key Points:

• Bitcoin surges to near $94,000, marking its highest level since early March.
• Weekly gains approach 10%, fuelled by hopes of easing trade tensions.
• Trump hints at softening tariffs, reversing earlier threats.
• Uncertainty remains as China denies trade talks, despite US claims.
• Altcoins also rally, with Polygon up 11% and Dogecoin jumping 4.2%.
• Investors speculate Bitcoin could test $100,000 in the coming weeks.

What’s Driving Bitcoin’s Rise?

Much of the rally has been tied to politics. Earlier this week, President Trump reversed threats to sack Federal Reserve Chair Jerome Powell and indicated a potential rollback of trade tariffs on China. Although US officials claimed negotiations were underway, China publicly denied any discussions had occurred. Despite the conflicting narratives, markets reacted positively to the mere suggestion of diplomacy.

Bloomberg added to the optimism by reporting that China may exempt certain US goods from its steep 125% import tariffs, sparking fresh hope that trade barriers could be lowered soon.

Bitcoin, which often acts as a hedge against geopolitical risk and inflation, tends to thrive in times of uncertainty. But in this case, it’s not just the uncertainty—it’s the potential resolution that’s encouraging bullish sentiment.

Where Could Bitcoin Go From Here?

With momentum on its side, analysts and investors alike are now speculating whether Bitcoin will test the psychologically important $100,000 mark. Several factors support the bullish outlook:

• Improving macroeconomic sentiment, especially if trade tensions ease.
• Increased institutional interest, with hedge funds and asset managers returning to crypto markets.
• Growing global inflation concerns, which tend to benefit decentralised assets like Bitcoin.

However, caution is still warranted. Bitcoin’s price is notoriously volatile, and any sign of renewed trade conflict or regulatory clampdowns could trigger sharp pullbacks.

Altcoins Also Riding the Wave

Bitcoin’s rally lifted the broader crypto market. Polygon surged 11%, while Solana and Cardano gained 2.7% and 4.4%, respectively. Even meme coins like Dogecoin climbed, rising 4.2%.

Ethereum remained relatively flat at $1,770, showing that while Bitcoin is leading the charge, momentum across the sector is uneven.

Final Thoughts

As the global economic stage continues to shift, Bitcoin’s status as a digital hedge and speculative asset remains strong. If current trends hold, breaking past $94K could be just the beginning—with $100K possibly around the corner.

Sources: (Investing.com)