Bitcoin breaks through the $ 103,000 level

Bitcoin BTC $102,501.06 Bitcoin 1.36% Market capitalization $2.04 trillion VOL. 24 hours $3.69 billion is approaching the $ 104,000 mark on the back of a new trade agreement between the United States and the United Kingdom. This was the first time since February this year that the rate exceeded $ 100,000, reaching $ 103,700 at the time of writing. The growth of cryptocurrencies comes amid a general increase in investor interest in risky assets, including digital ones.

Ethereum ETH $2,303.41 Bridged Ether (StarkGate) 12.71% Market capitalization $0.21 billion VOL. 24 hours $4.7 billion and Dogecoin DOGE $0.20 Binance-Peg Dogecoin 6.10% Market capitalization $0.52 billion VOL. 24 hours $0.49 billion are also showing positive dynamics. The Ethereum rate has risen by more than 20% to $ 2,195, while Dogecoin has increased by 11% to $ 0.195. This market reaction is explained by the growing optimism that arose after the announcement of a trade agreement between the administration of US President Donald Trump and the government of British Prime Minister Keir Starmer.

According to the details of the agreement, the US retains a 10% tariff on British goods, while the UK reduces its own tariffs to an average of 1.8%. Economists believe that such an agreement stimulates positive expectations in the financial markets, which, in turn, supports the growth of crypto assets.

However, some analysts warn that the current growth may be the result of short covering of positions, as the open interest in bitcoin futures has decreased by 0.2% over the past day. At the same time, open interest in Ethereum increased by 20%, indicating an increase in institutional activity. The total capitalization of the crypto market currently stands at $ 3.22 trillion.

Analytical company Santiment draws attention to the «greedy» market dynamics that often precede corrective movements. Technical experts point to key resistance levels for bitcoin: $ 106,500 and $ 101,500. The nearest support level is $ 93,780. Despite the growth, experts advise restraint, given the possible volatility in the market.