Bitcoin tops $100K for first time since February after Trump trade deal with UK

New York Post - May 8th, 2025
Open on New York Post

Bitcoin surged past $100,000 for the first time since February, fueled by a significant trade agreement between the United States and the United Kingdom. This development marks a potential easing of President Trump's trade war, following his recent return to the White House. The announcement of the deal, which adjusts tariffs on goods traded between the two nations, has had an immediate positive impact on the cryptocurrency market. By midday, bitcoin was trading at $101,329.97, marking a 4.7% increase, while ether also saw a substantial rise, climbing over 14% to $2,050.46. The trade deal retains a 10% tariff on UK goods entering the US but reduces Britain's tariffs on US imports to 1.8% from 5.1%, signaling a shift towards more open trade relations.

This strategic agreement is the first since Trump initiated a global trade war, which had caused significant market volatility. The resurgence of bitcoin and ether indicates a renewed risk appetite among investors, supported by factors such as institutional inflows into bitcoin ETFs, easing geopolitical tensions, and monetary stimulus measures from China. Market analysts highlight that the swift rebound in bitcoin's value underscores the potential for further gains, with long-term holders driving the price recovery. Despite this positive momentum, other cryptocurrencies have not rebounded as strongly, with ether still significantly below its previous highs.

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RATING

5.0
Moderately Fair
Read with skepticism

The article provides an interesting snapshot of recent developments in the cryptocurrency market and international trade, focusing on Bitcoin's price surge and a new US-UK trade deal. While timely and relevant, the story lacks depth in its analysis and fails to provide a comprehensive view of the broader implications. The absence of diverse sources and perspectives limits its balance and credibility, and the lack of transparency in sourcing further impacts its reliability. Despite these weaknesses, the article is clear and readable, making it accessible to a wide audience. However, to enhance its quality, the piece would benefit from more thorough exploration of the economic and political contexts, as well as the inclusion of diverse viewpoints and detailed evidence to support its claims.

RATING DETAILS

6
Accuracy

The story makes several factual claims, such as Bitcoin reaching $100,000, the trade deal between the US and UK, and the performance of cryptocurrencies like Ether. The claim about Bitcoin's price is supported by similar reports, though the precision of the exact price and percentage gain might need verification. The trade deal details, including tariff adjustments, align with typical economic agreements but require confirmation from official sources. The story's mention of institutional inflows and geopolitical factors influencing Bitcoin's surge lacks specific data or references, making these claims less verifiable. Overall, while the story presents plausible scenarios, the lack of detailed evidence or citations for some claims impacts its accuracy.

5
Balance

The article primarily focuses on the positive developments in Bitcoin's price and the trade deal, presenting a somewhat optimistic view without exploring potential negative implications or dissenting opinions. It lacks a comprehensive range of perspectives, such as views from critics of cryptocurrency volatility or those skeptical of the trade deal's long-term effects. Additionally, the narrative centers on the benefits for Bitcoin investors, omitting the viewpoints of those who might be adversely affected by the trade agreement or the broader economic context. This limited perspective suggests a degree of bias towards a favorable interpretation of the events.

7
Clarity

The article is generally clear and concise, with a logical flow that guides the reader through the main events and their implications. The language is straightforward, making the content accessible to a broad audience. However, the lack of detailed explanations for some technical aspects, such as the mechanisms driving Bitcoin's price changes or the specifics of the trade deal, might leave readers with unanswered questions. While the article's tone is neutral, providing more background information would enhance comprehension for those less familiar with the topics discussed.

4
Source quality

The article does not provide direct attribution to specific sources or experts, except for a quote from Antoni Trenchev of Nexo, which adds a level of credibility. However, the lack of diverse, authoritative sources or references to official data weakens the overall reliability. The absence of citations from governmental or financial institutions regarding the trade deal or Bitcoin's market performance limits the story's trustworthiness. The reliance on a single industry insider for commentary suggests potential bias and does not offer a well-rounded view supported by multiple expert opinions.

3
Transparency

The article lacks transparency, as it does not disclose the methodology behind its claims or provide context for the data presented. There is no explanation of how the information was gathered, nor any acknowledgment of potential conflicts of interest that might affect the impartiality of the reporting. The absence of detailed sources or background information on the trade deal and Bitcoin's price dynamics makes it difficult for readers to assess the validity of the claims. Greater transparency in the reporting process would enhance the story's credibility.

Sources

  1. https://www.businessinsider.com/bitcoin-price-crypto-tariffs-cryptocurrency-fed-trade-deal-btc-2025-5
  2. https://www.binance.com/en/square/post/05-08-2025-bitcoin-news-bitcoin-price-reclaims-100k-as-dominance-surges-new-bull-phase-underway-23977344663377
  3. https://cointelegraph.com/news/bitcoin-hits-100k-first-time-since-january
  4. https://www.investopedia.com/crypto-stocks-jump-as-bitcoin-surges-above-usd100k-for-first-time-in-three-months-11730622
  5. https://www.financemagnates.com/trending/why-is-bitcoin-going-up-btc-price-breaks-the-100000-barrier-again/