Bitcoin crossed the $100,000 threshold for the first time since February on Thursday before slipping slightly to $99,469—still up 2.6% on the day and 3.06% for the week. The rally adds to a 24.2% gain over the past month and reflects growing investor confidence in the asset amid major geopolitical and monetary shifts.
Markets responded enthusiastically to U.S. President Donald Trump's social media announcement of a “major trade deal” with the U.K. in the works, fueling optimism that the U.S. trade war could ease. Treasury Secretary Scott Bessent is expected to meet with Chinese officials in Switzerland, marking the first bilateral trade talks since the Trump administration's renewed tariff measures.
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In tandem, institutional appetite continues to surge. U.S.-listed spot Bitcoin ETFs saw $142 million in net inflows Wednesday, reversing Tuesday's $85 million in outflows. Ark Invest's ARKB led the charge, attracting $54.7 million alone. According to Farside Investors, cumulative inflows into U.S.-based Bitcoin ETFs have now surpassed $40.6 billion.
Standard Chartered analyst Geoff Kendrick doubled down on his bullish forecast, sharing with Decrypt Thursday that his Q2 price target of $120,000 may be too conservative. He cited institutional disclosures due next week and strong macro support.
Federal Reserve Chair Jerome Powell's policy comments also lifted risk-on sentiment. On Wednesday, the Fed left interest rates unchanged at 4.5%, while Powell emphasized a “solid” U.S. economic position despite heightened uncertainty from tariffs and global trade disruptions.
Marco Lim of MaiCapital told Decrypt that if the Fed follows through with its projected rate cuts, Bitcoin could not only retest $100,000 but break out toward Kendrick's target.
The sentiment is mirrored in investor behavior. The Crypto Fear and Greed Index climbed to 65—firmly in Greed territory—up from Neutral last week. On decentralized prediction platform Myriad, 91% of participants expect the index to remain elevated through Friday.
Adding fuel to the bullish thesis, Arizona passed legislation allowing the state to invest in Bitcoin and take ownership of dormant coins. It marks the second U.S. state to endorse a similar measure, signaling growing domestic acceptance of Bitcoin as a treasury asset.
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