Bitcoin Surges Near $100K as Trump’s UK Trade Deal Sparks Market Optimism
Bitcoin experienced a significant rally, climbing from $95,700 to nearly $99,686 within hours, driven by renewed market optimism. This surge coincided with U.S. President Donald Trump’s announcement of a "major trade deal" with the United Kingdom, as reported by The New York Times. The positive sentiment extended to global markets, boosting the broader cryptocurrency sector. Market activity highlighted strong bullish momentum, with $83.6 million in short positions liquidated, further fueling the upward trajectory. Analysts attribute the rally to growing institutional interest and macroeconomic factors favoring digital assets. As of May 8, 2025, Bitcoin continues to demonstrate resilience, with traders eyeing the $100,000 psychological threshold as the next major milestone.
Why Bitcoin Is Up Today? Trump’s UK Trade Deal Tease Sparks Rally
Bitcoin surged from $95,700 to nearly $99,686 in a matter of hours, fueled by renewed market optimism. The rally coincides with U.S. President Donald Trump’s announcement of a "major trade deal" with the United Kingdom, as reported by The New York Times. Global markets responded positively, extending gains to the broader cryptocurrency sector.
Market activity underscores the bullish momentum—$83.6 million in short positions were liquidated, while open interest spiked 26% to $64.4 billion. A key technical reversal pattern remains active, suggesting potential upside toward $100,000 and beyond.
High-Frequency Trading Firm Tower Research Capital Bets Big on Bitcoin
Tower Research Capital, a prominent high-frequency trading firm, is quietly expanding its footprint in the digital asset space. Its quantitative trading division, Limestone Trading, has significantly increased funding for crypto trading activities, leveraging machine learning techniques to navigate global crypto exchanges.
The MOVE comes as institutional interest in cryptocurrencies resurges, partly fueled by recent endorsements from high-profile figures like former US President Donald Trump. Limestone Trading, operating across Gurgaon, Singapore, and London, has become Tower’s primary conduit for digital asset transactions.
Bloomberg reports that the firm has upgraded its infrastructure to facilitate larger-scale crypto trades, underscoring a strategic pivot toward blockchain-based assets. With over fifty employees dedicated to this initiative, Tower’s crypto ambitions signal growing institutional confidence in the asset class.
Bitcoin Reclaims $100,000 Amid Macroeconomic Shifts and Institutional Demand
Bitcoin surged past $100,000 for the first time since February, fueled by anticipation of US-China trade negotiations and a potential UK trade agreement. The rally reflects growing institutional confidence in crypto as a hedge against traditional finance volatility.
Standard Chartered’s Geoff Kendrick projects a $120,000 price target by Q2’s end, citing Federal Reserve policy as a key catalyst. Wednesday saw $142 million in Bitcoin ETF inflows, underscoring accelerating institutional adoption as global entities diversify away from USD-denominated assets.
LockBit Ransomware Website Hacked, Bitcoin Keys Leaked by Prague-Based Attackers
LockBit, one of the most notorious ransomware operations, has suffered a significant breach. A group claiming ties to Prague infiltrated LockBit’s dark web infrastructure, exposing internal systems, negotiation logs, and a trove of bitcoin addresses. Blockchain analysts at SlowMist identified over 60,000 BTC wallets in the leaked data, alongside credentials for 75 users.
The attackers gained control of LockBit’s PHP-based management platform, leaving taunting messages in their wake. Evidence suggests ransom payments may have flowed through a Coinbase account, though the exchange hasn’t confirmed involvement. This infiltration marks a rare reversal for cybercriminals who typically operate with impunity.
LockBit Ransomware Gang Hacked, 60,000 Bitcoin Addresses Exposed
The notorious LockBit ransomware group suffered a significant breach on May 7, resulting in the exposure of approximately 60,000 Bitcoin addresses. This marks a rare setback for the cybercriminal organization, which has long plagued cryptocurrency firms with malicious attacks.
Bitcoin’s market fundamentals remain unaffected, trading at $96,611 with a 24-hour volatility of 2.1%. The cryptocurrency maintains a $1.92 trillion market capitalization and $29.09 billion in daily trading volume.
