President Trump announced a new trade deal with the UK, boosting Bitcoin and the broader crypto market. The deal, announced on Truth Social, is touted as a major win for the US, promising billions in revenue and export opportunities.
A Big Deal for the US and UK
The agreement includes a 10% tariff that’s expected to generate $6 billion in revenue. It also opens up $5 billion in export opportunities for American farmers and producers. Furthermore, it aims to strengthen national security for both countries by creating special trading zones for aluminum, steel, and pharmaceuticals. Trump called it a “Fair, Open, and Reciprocal Trade Deal,” something he claimed previous presidents failed to achieve.
Bitcoin Reacts Positively
Following the announcement, Bitcoin’s price surged. It jumped over 5%, reaching $102,644. This positive reaction wasn’t isolated to Bitcoin; the overall cryptocurrency market cap also saw a significant increase of 5.54% in the last 24 hours, reaching $3.32 trillion. This represents a substantial 35.16% growth compared to the previous year.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto carries significant risk, and you could lose money.
/p>