Bitcoin Rally Resumes on Trump's First Trade Deal

BTC, Trump Announces "Trade Deal with UK" Causing Surge
Futures Market Short Betting Liquidation Drives New High
BTC Breaks $100,000... Altcoins Surge Over 10%
Experts: "Macro Environment Still Unstable... Premature to Relax"

Bitcoin (BTC) broke $100,000 on the 9th following Trump's trade agreement announcement with the UK, approaching a new high.

President Trump stated on the 9th (local time) in the White House office, "We have concluded a groundbreaking negotiation with the UK" and "This agreement includes plans to establish an economic and security alliance with the US, which is the first of its kind".

Under this agreement, the US will reduce tariffs on UK-made cars from 25% to 10% for 100,000 units annually. They also agreed to eliminate 25% tariffs on UK steel and aluminum.

Bitcoin surged following Trump's announcement, triggering massive short betting liquidation in the futures market overnight. According to on-chain analysis platform CoinGlass's data on the 9th, total liquidation in the Bitcoin futures market reached $377 million (approximately 530.9 billion won), with short liquidations reaching $290 million (approximately 408.3 billion won).

On the 9th, Bitcoin maintained early $100,000 levels, and altcoins typically rallied by an average of about 10%.

◇Bitcoin = Bitcoin price on Upbit at 4 PM on the 9th was 144.7 million won. Bitcoin dominance was 64.29%.

According to on-chain analysis platform Sigbit, the long and short betting ratio in the Bitcoin futures market was 37.10% and 62.90% respectively.

Opinions suggest it's still premature to feel at ease about Bitcoin's rise.

Anthony Trenchev, co-founder of cryptocurrency exchange Nexo, said, "Bitcoin is supported by the pro-cryptocurrency Trump administration and strong buying from spot ETF investors," but warned, "The global geopolitical and macroeconomic environment remains unstable with risks of full-scale conflict between India and Pakistan, and the US Federal Reserve maintaining a cautious stance on rate cuts".

◇Rising Coins = At 4 PM on Upbit, MultiversX (EGLD) showed the largest increase, rising approximately 14%.

MultiversX is a public blockchain platform based on 'Sharding' that provides fast transaction speeds to solve scalability issues.

◇Fear and Greed Index = The digital asset Fear-Greed Index provided by Alternative is 73 points, entering the 'Greed' stage. The greed stage is characterized by high price volatility and trading volume. There's a high possibility of short-term peak formation, requiring caution in selling.

The Relative Strength Index (RSI) provided by Sigbit is 76.4, recording an 'overbought' state. RSI measures the relative strength between upward and downward price pressures for a specific asset.

Reporter Seung-won Kwon ksw@blockstreet.co.kr