Why are Bitcoin and other crypto prices going up today?

By: cryptosheadlines|2025/05/08 14:45:01

VIRTUAL

BTC

PENGU

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Bitcoin and most altcoins rallied on Thursday as market participants cheered the first trade deal announced following Donald Trump’s Liberation Day speech.Bitcoin (BTC) rose to $99,415 as bulls attempted to push it above the key psychological level of $100,000, potentially paving the way for a retest of its all-time high of $109,300.Some of the top-performing altcoins were Pudgy Penguins (PENGU), Virtuals Protocol (VIRTUAL), Brett (BRETT), and Pepe (PEPE). This rally pushed the market cap of all coins to over $3.10 trillion.The ongoing crypto market surge began after the Federal Reserve announced its interest rate decision. As widely expected, the Fed held rates steady at 4.25%–4.50% and maintained its wait-and-see approach.Most analysts anticipate the first rate cut will come later this year, with ING projecting a September cut. Likewise, Polymarket traders do not expect cuts at the Fed’s June or July meetings. While the Fed’s tone was hawkish, Bitcoin and crypto prices climbed because the outcome was in line with market expectations.Bitcoin and altcoins also surged after the U.S. announced a new trade agreement with the United Kingdom. Under the deal, the U.S. will reduce tariffs on UK steel and automobiles, while the UK will drop its $800 million digital tax targeting American tech firms.This announcement comes as U.S. and Chinese officials prepare to meet in Switzerland for renewed trade talks, which analysts hope will help de-escalate tensions. Lowering U.S.–China tariffs could provide another boost to crypto and equity markets, while also supporting potential Federal Reserve rate cuts.Bitcoin and crypto prices rose after Binance acquired DeribitThe rally also rose after Coinbase, the biggest cryptocurrency exchange in the US, acquired Deribit, a leading player in the options and futures market in a $2.9 billion deal. This purchase will help it become a major player in an industry that handles billions of dollars a day. In an emailed note to crypto.news, Spencer Young, the co-founder of Fractal Bitcoi, said:“Global derivatives trading is a key driver of growth for Coinbase. Deribit is the platform of choice for global traders for Bitcoin and Ethereum options. Their platform has a strong operating history and is the only major independent company with similar DNA to Coinbase. They’ve not launched a token and have an AUM of $4B.”The rally was further supported by continued institutional buying. Spot Bitcoin ETFs added $142 million in assets on Wednesday, bringing weekly inflows to $482 million. Year-to-date, these funds have accumulated more than $5.7 billion in net inflows. Source link

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