U.S. stocks rallied today while Bitcoin reached its highest point since February, after President Donald Trump announced that the Washington rand Downing Street decided on a trade agreement.
The price of the leading cryptocurrency increased by more than 3%, reaching $99,379.72. Earlier, it climbed as high as $99,897.00.
It comes after Trump teased the announcement of a U.S.- UK trade deal on Truth Social. In a subsequent post, he said the arrangement would “cement the relationship” between the two nations.
Stocks initially rose broadly on this news, with the Dow Jones Industrial Average gaining about 300 points at one point, though they have since come off their high.
Coinbase and Strategy gained approximately 4% and 3%, respectively. Other cryptocurrencies, which have struggled to keep pace with Bitcoin this year, also rallied. Ether jumped 10%, while the token tied to Solana gained 7% and Dogecoin rose 9%.
