Bitcoin has surged above $110,000, driven by growing optimism around global trade developments following President Trump's trade negotiation extension with the European Union.
BTC is currently trading at $110,050 with a 24-hour volume surpassing $48 billion and a market capitalization exceeding $2.18 trillion, based on data from CoinMarketCap.
The price spike reflects a shift in macroeconomic sentiment after a month of consolidation, sparked by Trump's decision to delay tariff hikes and engage in talks, calming economic tensions.
Bitcoin's position as a hedge against financial instability, coupled with reduced economic uncertainty due to Trump's actions, has led to renewed market confidence, with the momentum hinging on the outcome of ongoing negotiations.