Why Is Bitcoin (BTC) Price Rallying Today?
Highlights
- Bitcoin price surged from $95,700 to $99,400 in eight hours after Trump's announcement.
- Bitcoin is currently trading at $98,914.35 with a 2.52% today with forecasts of increased volatility.
- Analysts divided on Trump's announcement impact, some see potential for sustained uptrend if buyers defend $100,000 level
Donald Trump’s hinted at a “big announcement” on May 8 at 10 AM ET, which catalyze Bitcoin (BTC) price rally to nearly $100k. Will this news-driven rally push BTC price to $100k?
Trump’s comment has caused Ethereum price to shoot 6%, which is also seen across other altcoins in the crypto market today.
Why is Bitcoin Price Up Today?
Bitcoin price today trades at $101,440.0 on 6 PM. In the past 24 hours, BTC is up 4.88% with a daily high of $101,784.0 on October 12.
As noted above, Donald Trump said.
“Big news conference tomorrow, 10 am EST in the Oval Office.”
Trump also added that this would be regarding a major trade deal with a “big and highly respected country.”
*bitcoin price updated as of 6 PM.
Despite Trump’s trade war and building macroeconomic pressure, the BTC trades at $101,440.0 after bouncing 1.38% in the early Asian session. The optimism can be attributed to massive spot Bitcoin ETF inflows that have crossed the $3 billion mark in the past two weeks.
Will BTC Hit $100k Today?
Bitcoin price exploded from $95.7k to $99.4k in just eight hours, but is currently undergoing correction and is down 0.65% from the local top. May in the crypto community believe this sudden rally could be market front-running the announcement, which may cause a sell-the-news event.
Loma, a well-known crypto influencer, said,
“common sense traders, like me, mostly sidelined and in shambles.”
The analyst went on to suggest that Trump was “blatantly manipulating the markets higher.”
As for BTC price, revisiting the $100k psychological level is uncertain. While volatility from the news may lead to a brief retest of $100,000, buyers must defend and retain this level for a sustained uptrend. Until Trump’s announcement, Bitcoin price predictions are neither bullish nor bearish.
Frequently Asked Questions
What triggered Bitcoin's recent price rally?
Will Bitcoin hit $100,000 today?
What is driving the optimism in the crypto market?
Recent Posts
- Price Analysis
PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
The Pepe Coin price has plunged by 24.2% in the last 24 hours, reflecting the…
- Price Analysis
Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
The crypto market is sharply down today as global risk sentiment deteriorates following renewed trade…
- Price Analysis
Can $TAPZI Reach $1 In Q1 2026?
Gamefi project TAPZI is raising funds to build an innovative decentralized gaming platform on the…
- Price Analysis
Here’s Why XRP Price May Have a Zcash-Like Surge
XRP price has continued to underperform the crypto market this month. It has sunk into…
- Price Analysis
$TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
GameFi project TAPZI commenced the presale event for its native token on July 22, 2025.…
- Price Analysis
Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
The Cardano price has drawn renewed attention as recent technical patterns and network updates converge…