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Crypto Market Eyes Rally as Trump Teases Major Trade Deal
By: bitcoin ethereum news|2025/05/08 21:30:02
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Key Notes President Trump announced a press conference to unveil a “major trade deal” with a “highly respected country.” Reports suggest it could mark progress in US-UK trade talks. Analysts expect this to positively impact global markets. Ethereum (ETH) jumped in value following its Pectra upgrade, while Solana (SOL), XRP, Dogecoin (DOGE), and Cardano (ADA) posted gains of 3-5% amid improving macro. . In a message on his social media platform Truth Social, US President Donald Trump has teased a “big” tariff deal with one of the highly respected countries and US allies, thereby setting the stage for a crypto market rally ahead. As tensions surrounding the US trade war are likely to subside moving ahead, Bitcoin and altcoins have witnessed a healthy uptick over the past week. The Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B price is up another 2.71% today, eyeing a breakout above $100K, while Ethereum (ETH) is up 5%, moving closer to $1,900 levels. Crypto Market Speculation Rises on Donald Trump’s “Big” Trade Deal US President Donald Trump stated that he would be announcing a “big” tariff deal with a “highly respected country” on Thursday morning 10:00 AM. Trump wrote: “Big News Conference tomorrow morning at 10:00 A.M., The Oval Office, concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY. THE FIRST OF MANY!!!” Despite Trump not revealing the entire details, a New York Times report speculated that this could be a breakthrough in the US-UK trade deal going ahead. Reducing tariffs could help alleviate inflationary pressures, creating a more favorable environment for investing in crypto, tech, and other high-beta assets. Bitcoin surpassed $99K for the first time since February, extending its weekly gains to nearly 5% amid improving macro conditions and renewed ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B inflows. Apart from BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B , altcoins are also showing strength with ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B gaining 5%, moving to $1,850 levels, a day after the Pectra upgrade went live on the ETH $1 845 24h volatility: 2.6% Market cap: $222.72 B Vol. 24h: $14.22 B mainnet. Other top altcoins like SOL $150.7 24h volatility: 2.6% Market cap: $78.04 B Vol. 24h: $3.80 B , XRP $2.22 24h volatility: 0.8% Market cap: $129.99 B Vol. 24h: $2.17 B , DOGE $0.18 24h volatility: 5.1% Market cap: $27.07 B Vol. 24h: $1.05 B , and ADA $0.71 24h volatility: 3.3% Market cap: $25.55 B Vol. 24h: $547.02 M , have gained anywhere between 3-5%. What to Expect From Trump Trade Talks? The New York Times reports, citing three sources familiar with the matter, that the United States is set to enter into a trade deal with the United Kingdom. Timothy C. Brightbill, an international trade attorney at Wiley Rein, noted that the announcement is likely an agreement to begin negotiations, outlining a framework of issues to be addressed in the coming months. He added: “We suspect that tariff rates, nontariff barriers and digital trade are all on the list — and there are difficult issues to address on all of these.” next Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content. Cryptocurrency News, News Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. Bhushan Akolkar on X Source: https://www.coinspeaker.com/will-crypto-market-rally-as-donald-trump-teases-big-trade-deal/
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