Crypto Markets Surge After Trump Announces Trade Deal; SUI Jumps Nearly 8% From Key Swing Low

The crypto market surged late this week following a Truth Social post by President Donald Trump, who teased a "major trade deal" announcement from the Oval Office on Friday morning. He described the deal as involving a "highly respected country" and called it the "first of many," sparking optimism across global markets—particularly in the crypto sector, where risk appetite quickly returned.

Momentum built during the Asia session and carried through the London open, with crypto markets extending gains into the New York session as Trump officially announced a trade deal with the U.K. a day later. The news amplified optimism around global economic cooperation, reinforcing risk-on sentiment and driving continued interest in digital assets.

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Altcoins in particular responded strongly, with SUI standing out among the biggest movers. While Bitcoin continues to climb, SUI has shown one of the most impressive rallies since the announcement.

After making a low of $3.3122 on Thursday, SUI is now trading at $3.59—up 7.89%—after forming a key swing low on the daily chart. This reversal point is catching attention from traders watching for signs of broader strength in altcoins. The bounce follows a strategic sweep of last week's low at $3.1530, an important technical level where buyers often re-enter the market if sentiment shifts.

From a charting perspective, this setup is particularly noteworthy. Taking out last week's low cleared out weak hands and likely triggered stop orders, setting the stage for stronger buying pressure to emerge. Now, with momentum building and a clearer macro backdrop, traders are eyeing the next upside target: the double top set at $3.8975. This level will be critical going into the weekend, as a break above it could confirm a larger bullish reversal pattern for SUI.

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Elsewhere in the crypto market, Bitcoin continues to trend upward, now trading around $98,688. The march toward the psychological $100,000 mark remains a focal point, with many traders viewing it as both a key resistance and a potential breakout level. Market structure remains firmly bullish, and with global narratives turning more constructive, Bitcoin's climb is helping to lift the broader digital asset space.

The timing of Trump's trade-related tease couldn't be more impactful. As global markets digest the implications of possible new trade agreements, crypto—especially altcoins like SUI—stands to benefit from increased risk appetite and speculative flows. Although the specific country involved in the deal has not yet been revealed, the anticipation of further trade-friendly policies adds a bullish layer to already strengthening technical conditions.

While headlines are driving some of the excitement, it's the underlying structure and investor psychology that support continued upside. For SUI, holding above the $3.30–$3.35 area is key for sustaining this momentum. If bulls can maintain pressure and push through the $3.8975 double top, it could trigger an even stronger move—possibly toward new highs for the year.

In short, the combination of macro headlines and strong technical support is giving traders fresh setups to work with. With Bitcoin knocking on the door of $100,000 and altcoins like SUI showing renewed strength, this week's developments may be setting the tone for a volatile but bullish close to the month.

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