Bitcoin surges past CAD 137,000 on U.S.-U.K. trade deal boost
After the announcement of the trade agreement between the U.S. and the U.K., Bitcoin experienced a significant increase, reaching its highest value since February. The price of this cryptocurrency exceeded the level of CAD 137,000, which may indicate growing investor confidence in an unstable macroeconomic environment, CNBC reports.
The decision by Donald Trump's administration to announce the trade agreement contributed to the revival in the cryptocurrency market. Bitcoin, as the most popular cryptocurrency, gained value and for the first time since February exceeded CAD 137,000, reaching a price of CAD 139,200.
According to Coin Metrics data, the increase was almost 6 percent within a few hours, beginning just after the White House announced the outline of the trade agreement at 7:00 PM Eastern Time.
Despite earlier turbulence caused by Trump's tariff policy, which created uncertainty in the markets, Bitcoin gained prominence as an alternative asset.
In times of uncertainty, investors are increasingly turning to safer havens such as cryptocurrencies, which offer greater resilience to traditional economic fluctuations.
Not only bitcoin is rising
As noted by Antoni Trenchev, co-founder of the cryptocurrency exchange Nexo, Bitcoin is still susceptible to volatility but can currently become an attractive alternative for investors seeking stability in an unstable global environment.
Meanwhile, other cryptocurrencies such as Ethereum, Solana, and Dogecoin have also seen increases, but Bitcoin remains the leader in this field.
Despite the increases, experts predict that Bitcoin will not be fully safe until it reaches the level of CAD 149,000, which was its maximum in January. In the next two months, Bitcoin's rate may remain between CAD 95,000 and CAD 149,000, and further market stabilization depends on the final decisions of the Trump administration regarding trade policy, reports suggest.
