Early trading on May 8 saw a price increase for Bitcoin (BTC) almost equal to $100,000, fueled by speculative expectation around a possible policy statement from former U.S. President Donald Trump. With BTC reaching a high of $99,401 during the Asian session, the cryptocurrency market has rekindled debates on price targets, market manipulation, and institutional interest, all developing against more general macroeconomic instability.
What Triggered Bitcoin’s Latest Rally?
Trading at $98,934, Bitcoin was up 2.63% over the past 24 hours at 5 AM ET on May 8. Trump’s cryptic remark sent via Truth Social seems to have sparked this optimistic momentum:
“Big news conference tomorrow, 10 am EST in the Oval Office.”
Trump made hints that the event would include a significant trade deal with a “highly respected nation.” Though no particular country was mentioned, traders and crypto analysts suspect it could consist of geopolitical events with China or India, both of which could have major effects on worldwide markets.
The uncertainty of the sentence, together with market mood and a recent capital infusion into Bitcoin spot ETFS, helped drive BTC towards the much-awaited $100,000 level.
Ethereum and Altcoins Also See Gains
Ethereum ( ETH) showed a 6% price rise in line with Bitcoin’s ascent, indicating a more general market comeback among cryptocurrencies. In the 3–5% range, tokens including Solana (SOL), Avalanche (AVAX), and Cardano (ADA) have also shown modest increases. This coordinated rise points to rising confidence within the bitcoin ecosystem, particularly among retail investors and institutional players looking for macro-driven triggers.
Bitcoin ETF Inflows Cross $3 Billion
Apart from speculative enthusiasm about Trump’s proposal, huge institutional flows into spot Bitcoin ETFS, which have garnered over $3 billion in inflows in the previous two weeks alone, are driving Bitcoin’s price. Major asset managers BlackRock, Fidelity, and ARK Invest are leading the push in producing regulated investment products, therefore helping to validate Bitcoin as a hedge in diverse portfolios.
This increase in demand has matched declining supply on exchanges, strengthening positive technical setups on a long timescale.
Is Bitcoin Headed for $100K Today?
Although Bitcoin was 0.6% of the $100,000 mark, present market activity indicates a slowing down of BTC, which was $98,743 at the time of writing. Analysts propose this could be a classic case of “buy the rumour, sell the news”—a regular occurrence in both conventional and crypto markets.
Noted crypto analyst Loma tweeted:
“Common sense traders, like me, mostly sidelined and in shambles. Trump is blatantly manipulating the markets higher.”
Still, short-term momentum is really strong. Bitcoin might surpass $100K and create fresh support above that psychological level if the next announcement meets the hype, especially if it entails crypto-friendly policies, tariff rollbacks, or new international trade channels.
Could This Be a Temporary Spike?
One should be aware that speculative rallies sometimes cause severe corrections. Bitcoin might not retain the $100,000 milestone without continuous buying pressure. Key support zones are at $97,000 and $95,500; buyers should intervene should a selloff occur. Furthermore, past behaviour around news-driven demonstrations usually consists of whale buildup, market front-running, and profit-taking, which could increase volatility over the following 24 to 48 hours.
Context: Trump, Trade Policy, and Crypto Markets
Donald Trump’s interaction with cryptocurrencies has changed. Although he used to criticise Bitcoin, his 2024 campaign has seen him warming towards blockchain technologies and financial innovation. A positive declaration on U.S. trade strategy, fiscal policy, or crypto regulation might indicate a major change in the national posture towards digital assets. Given the linked character of monetary policy, world commerce, and risk-on assets, the crypto market is still highly vulnerable to political signals from leaders like Trump or the present President Joe Biden.
Frequently Asked Questions
Why is the Bitcoin price up today?
Bitcoin’s price rose due to the anticipation of Donald Trump’s major announcement regarding a potential trade deal, coupled with strong spot ETF inflows totalling over $3 billion.
Will Bitcoin hit $100K soon?
While Bitcoin neared $100K, hitting this level depends on the content of Trump’s announcement and whether market sentiment remains bullish in the short term.
What did Trump say about Bitcoin?
Trump didn’t mention Bitcoin directly but teased a “big” announcement related to international trade, which traders interpreted as a market-moving event.
How does a Trump announcement affect Bitcoin?
Presidential announcements, especially those involving trade or finance, can trigger investor speculation and lead to sharp movements in Bitcoin and other cryptocurrencies.
Are Ethereum and altcoins also rising?
Yes, Ethereum jumped 6%, and several altcoins, such as Solana and Cardano, also saw significant gains in response to the broader market optimism.
