Key points:

• Bitcoin crosses $104,000 threshold
• Traders bet China deal is coming
• Bitcoin up 40% since April bottom

OG coin was last seen sprinting to the $104,000 mark after Trump announced a deal with the UK, dropping his hostile reciprocal tariffs. China next?

🎯 Bitcoin Clears $104,000

• Bitcoin BTCUSD surged past $104,000 early Friday, notching a fresh three-month high as the crypto market rallied on hopes that a broader thaw in global trade tensions is finally underway.
• The move came after US President Donald Trump announced a breakthrough trade deal with the UK, scrapping a series of retaliatory tariffs. What did traders do? They did what they do best — speculate.
• Traders figured China might be next. “We’re gonna have a good weekend with China,” Trump said, sparking hopes that the tariff war with China might be coming to an end.

💪 Tariffs Out, Risk On

• The shift in tone jolted markets into risk-on mode. Bitcoin, still the poster child for high-beta assets, was among the first to respond — jumping from $98,000 to a session high of $104,300 Friday morning. Ethereum ETHUSD was doing even better — flexing a 25% gain.
• Investors interpreted the move as a sign that Trump could de-escalate his trade war strategy with other major economies, removing one of the biggest macro overhangs facing digital assets.

😎 Rally Fueled by Sentiment

• Bitcoin had already been riding a four-day winning streak after this week’s Fed decision left interest rates unchanged. The latest trade development poured more fuel on the fire, helping Bitcoin break above key resistance.
• While traders are now eyeing the psychological $110,000 mark (or a slip back under the six digits), they’re also watching for any signs of an actual US-China detente — which could give crypto the final push into breakout mode. In that context, Bitcoin is up 40% since its April lows near $74,000.

Source: Tradingview