Bitcoin (BTC) reached the $100,000 mark on major exchanges for the first time since February before slightly pulling back as traders took profits. The surge in value coincided with the Federal Reserve keeping interest rates stable and positive updates from President Trump on tariff negotiations with several countries.

Trump announced a trade agreement with the UK, marking the first deal since the implementation of his administration's tariff program. The comprehensive agreement is expected to strengthen the long-standing relationship between the United States and the United Kingdom by reducing duties on steel and autos, alleviating concerns about inflation in the supply chain.

As a result of the increased risk appetite in the market, over $492 million in short positions were liquidated in the past 24 hours across various derivative platforms. Traders are now looking towards the $105,000 mark as the next resistance level, with the potential for a quick rise to $120,000 if Trump's trade deal proceeds smoothly.