Cryptocurrency bitcoin surges beyond $100,000, marking its highest point since February.
Cryptocurrency Surges:
Bitcoin soared beyond the $100,000 mark for the first time since February, hitting a peak of $100,881.90 on May 8, 2025, according to Coin Metrics. The surge was instigated by President Donald Trump teasing a trade announcement between the U.S. and the United Kingdom. As the details unfolded, stocks followed Bitcoin's lead, rallying along with it.
Antoni Trenchev, co-founder of crypto exchange Nexo, remarked, "Bitcoin has not only reclaimed $100,000 but it's also reaffirmed its status as the ultimate bouncebackability asset as the prospects for U.S. trade deals brighten."
The market uncertainty has worked to Bitcoin's advantage since investors have begun to question the safety of traditional U.S. assets. Though the Trump administration has tempered some of its hardline tariff rhetoric, clarity on trade policy is still in search. Trenchev underscores that Bitcoin remains fortified by a pro-crypto administration, eager buying from spot ETF investors, and its superior performance against U.S. equity benchmarks in 2025 - indicative of its resilience and safe-haven status.
However, Bitcoin faces an uphill battle before securing its position. It must surpass its January high of around $109,350 to solidify its comeback[1][2]. If successful, it may languish in its post-election trading range between $70,000 to $109,000 for another two months, according to Trenchev[1]. Nevertheless, the recovery of $100,000 stands as one of Bitcoin's most outstanding achievements, serving as proof that buying during fearful times can prove highly profitable.
Further insights:
- Stablecoins have regained the limelight as Senate Democrats reject legislation approving their use[3].
- Coinbase saw a surge of over 5%, putting it in an upward trajectory, while Strategy gained almost 7%. Other cryptocurrencies, including Ether, Solana's token, and Dogecoin, also saw gains[2].
- Since Trump introduced tariff policies in early April, Bitcoin has experienced a 16% increase. Meanwhile, spot gold gained nearly 6%, and the S&P 500 eked out a marginal increase.
[1] Coin Metrics data[2] CNBC data[3] Wall Street Journal report by Anna Irrera and Joseph Ciaicau, May 7, 2025. Find it here[4] Reuters report by Bailey Lipschultz, May 8, 2025. Find it here
- The surge in Bitcoin's price beyond $100,000 in 2025, following President Trump's trade announcement, not only reclaimed the milestone but also reaffirmed Bitcoin's status as the ultimate resilient asset, according to Nexo's co-founder Antoni Trenchev.
- Despite the prospects of U.S. trade deals, Bitcoin still faces an uphill battle in securing its position, as it must surpass its January high of around $109,350 to solidify its comeback.
- Traditional U.S. assets, faced with market uncertainty, have been questioned by investors, which has worked to Bitcoin's advantage.
- Bitcoin's recovery of $100,000 in 2025 is one of its most outstanding achievements, serving as proof that buying during fearful times can be highly profitable.
- Coinbase experienced a surge of over 5% and Strategy gained almost 7%, with other cryptocurrencies like Ether, Solana's token, and Dogecoin also seeing gains, following Bitcoin's lead in the markets.
- Stablecoins have regained the limelight as Senate Democrats have rejected legislation approving their use, while the performance of Bitcoin against U.S. equity benchmarks in 2025 demonstrates its resilience and safe-haven status, fortified by a pro-crypto administration, eager buying from spot ETF investors, and its superior performance against traditional assets like stocks and gold.
