Bitcoin has surged past the $100,000 mark, reaching an impressive $101,700, propelled by a confluence of favorable developments in both regulatory landscapes and international trade agreements. This landmark achievement was announced today, May 9, 2025, amid an atmosphere charged with optimism following US President Donald Trump’s revelation of a potential trade deal with the United Kingdom, which could include lifting the existing 10% tariff on all imports—a move that seems to have bolstered market confidence. For more on the impact of these trade negotiations, see Bitcoin Traders Eye Breakout to New Highs as Trump Says Tariff Deals Progressing.
Regulatory Winds and Market Reactions
The market’s positive response to these announcements is palpable. The Dow Jones Industrial Average jumped by 500 points, and the S&P 500 saw a rise of 1.47%. Against this backdrop, Bitcoin has not only breached the psychological $100,000 barrier but appears to be solidifying it as a support level. “I’m watching closely now,” remarked Macroscope, a well-respected independent market analyst, on X, highlighting the critical nature of Bitcoin maintaining this threshold.
But it’s not just trade deals that are buoying Bitcoin. Recent legislative advances have further seeded optimism among traders and investors. Notably, two US states have cleared bills allowing them to establish strategic Bitcoin reserves. Just yesterday, the Missouri legislature forwarded Bill 594 to Governor Mike Kehoe’s desk, aiming to eliminate capital gains taxes—an enticing prospect for crypto investors.
Institutional Embrace and Strategic Reserves
The evolution of Bitcoin from a speculative asset to a strategic reserve is gaining traction. On May 7, the US Office of the Comptroller of the Currency (OCC) confirmed that banks could responsibly engage in crypto trading and even outsource custodial activities to trusted third parties. This regulatory nod is seen as a green light for financial institutions to deepen their involvement in the crypto market.
Meanwhile, the Federal Deposit Insurance Corporation (FDIC) has issued guidance enabling banks to hold crypto assets and extend various related services. This regulatory clarity is paving the way for more institutional adoption—spot Bitcoin ETFs are witnessing inflows, underscoring growing interest and confidence from both US-based and international publicly listed companies. This trend is in line with recent developments, as detailed in Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow.
A Changing Landscape
While Bitcoin’s rally to six figures has been partially fueled by futures market liquidations, amounting to $241 million, the broader environment has matured significantly since BTC last reached these heights. The US’s proactive stance in negotiating trade deals—not just with the UK but potentially with other nations as hinted by Trump—coupled with evolving crypto-friendly regulatory frameworks, is painting a promising picture for Bitcoin’s future.
However, questions remain about the sustainability of this rally. As Bitcoin continues its march, the broader question is whether these supportive conditions will persist and how they will influence Bitcoin’s trajectory. The market is watching closely, not just the price, but also the underlying fundamentals that could either bolster or undermine this resurgence.
So, is Bitcoin’s six-figure renaissance here to stay? The coming months, with their blend of economic, political, and regulatory developments, will tell. But for now, Bitcoin enthusiasts have reason to celebrate, with the digital currency once again asserting its place in the financial arena—amidst a whirlwind of strategic moves and regulatory shifts.
Source
This article is based on: Bitcoin hits $101.7K as US strategic reserve bills become law and BTC mass adoption accelerates
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Jumps Above $97K as Traders Optimistic U.S.-China Trade Deal Possible
- Bitcoin ETFs, gov’t adoption to drive BTC to $1M by 2029: Finance Redefined
- Arizona Governor Calls Crypto an ‘Untested Investment,’ Vetoes Bitcoin Reserve Bill
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
