The price of Bitcoin is nearing the psychologically important price point of $100,000 this morning—a level the cryptocurrency has not seen since early February. As of the time of this writing, one Bitcoin is currently trading at over $99,800. That’s up nearly 3% in the last 24 hours and only $10,000 lower than the all-time high that the token reached earlier this year. Here’s what you need to know about Bitcoin’s most recent approach to six figures. Bitcoin nears $100,000—again Bitcoin is currently trading at less than $200 shy of $100,000 per coin as of the time of this writing. The cryptocurrency king hasn’t traded at levels this high since early February, and it has not surpassed the $100,000 mark since the first few days of that month.  While a $100,000 price point of Bitcoin doesn’t have any underlying meaning on a fundamentals level, the passing of the six-figure barrier again will likely signal an important psychological threshold in many investors’ minds. In late January, just a day before President Trump was sworn in for his second term, Bitcoin traded at an all-time high of over $109,114 per coin. The coin had first crossed the $100,000 threshold back in December 2024, shortly after then-president-elect Trump announced the crypto-friendly Paul Atkins as the new Securities and Exchange Commission (SEC) chair. Atkins’s appointment was seen as signaling a much more friendly regulatory environment with the new administration. In the days leading up to Trump’s inauguration, Bitcoin continued to rise. But then came Trump’s “Liberation Day” tariffs in April—and along with the crash of global stock markets, Bitcoin and other cryptocurrencies crashed too. Last month, Bitcoin was trading at less than $75,000 per coin. Today’s nearly $100,000 price, then, marks a staggering turnaround for Bitcoin from just over 30 days ago. It is up over 30% in the past month and up over 4% in the past five days alone, with the price of the digital asset up nearly 3% in just the last 24 hours. But what is the reason for Bitcoin’s flirtation with the $100,000 mark today? Trade deals. Hopes of trade deals boost Bitcoin Investing.com notes that Bitcoin’s rise to nearly $100,000 in the past 24 hours can be attributed to one main factor: trade deal optimism.  Yesterday, President Trump teased on Truth Social that today there would be a “big news conference” detailing a “major trade deal” with a “big” country. It was the president’s first firm sign that one of his many promised trade deals was actually imminent.  If the United States actually starts signing trade deals with other nations, investors will likely feel less uncomfortable about the state of the global economy and the economic uncertainty that Trump’s tariffs have unleashed within America’s borders and across the world. Then, early today, Trump took to Truth Social to follow up on his earlier post, announcing that the U.S. has entered into a “full and comprehensive” agreement with the United Kingdom. While Trump didn’t specify that it was a trade agreement, that is the most likely type of agreement he is talking about. The president added, “Many other deals, which are in serious stages of negotiation, to follow!” Details of the U.S.-U.K. agreement are expected to be announced at a press conference at 10 a.m. ET today, reports CNBC. Anticipation of the U.S.-U.K. news further buoyed earlier optimism that, after nearly a month of uncertainty, major countries were closer than ever to working out new economic frameworks with the United States. Other cryptocurrencies are also on the rise Bitcoin isn’t the only cryptocurrency to rise on trade deal optimism. As of the time of this writing, other major coins are also up, including: Ethereum: up 6.2% XRP: up 3.1% Solana: up 4.2% Meme coins are also up, including: Dogecoin: up 5.8% Shiba Inu: up 4.7% Of course, it’s worth noting that cryptocurrencies are more volatile than more traditional assets, so there’s no guarantee that Bitcoin will indeed cross the $100,000 threshold again. However, today’s move closer to that mark will surely please jittery investors who have been forced to watch the crypto king decline by tens of thousands of dollars over the past several months.