Why Is Crypto Going Up Today: Bitcoin Breaks Above $99,000 Milestone Again

Bitcoin has officially surpassed the $99,000 mark today, breaking through this historic threshold after weeks of upward momentum.

Bitcoin’s historic achievement comes amid significant diplomatic developments on the global stage. President Donald Trump announced a “major trade deal” with what he called a “big, and highly respected, country” yesterday via Truth Social, which sources familiar with the matter have identified as the United Kingdom.

This US-UK agreement signals potential de-escalation of global trade tensions, improving risk appetite across financial markets.

Meanwhile, US Treasury Secretary Scott Bessent’s trip to Switzerland to meet with China’s Ministry of Commerce officials has sparked additional optimism. “The current tariffs and trade barriers are unsustainable, but we don’t want to decouple,” Bessent stated during his announcement.

These diplomatic initiatives have contributed to a broader cryptocurrency market rally, with total market capitalization rising approximately 2.5% in the last 24 hours to reach $3.09 trillion today.

Fed Holds Rates Despite Presidential Pressure

Yesterday’s Federal Reserve decision to maintain interest rates at the 4.25%-4.50% range has significantly influenced Bitcoin’s trajectory. Fed Chair Jerome Powell cited rising stagflation risks—slow economic growth coupled with persistent inflation—partly attributed to Trump’s tariff policies.

The decision comes despite mounting pressure from President Trump, who recently threatened to fire Powell for being “too late” in cutting rates. Powell defended the Fed’s position, noting that “inflation has come down a great deal but has been running above our 2% longer objective.”

Following Powell’s remarks, Bitcoin initially dipped below $97,000 but quickly rebounded, demonstrating resilience that carried into today’s milestone achievement.

Institutional Projections Signal Further Growth

Several major financial institutions maintain bullish projections for Bitcoin’s future.

Standard Chartered, through analyst Geoff Kendrick, forecasts Bitcoin reaching $120,000 by the second quarter of this year and $200,000 by the end of 2025. Their long-term outlook suggests $500,000 by 2028.

Matthew Sigel of VanEck has projected a peak around $180,000 in 2025 under a dual-cycle scenario. While VanEck hasn’t specified an official 2030 target, they anticipate new highs beyond 2025, potentially exceeding $400,000 in the next cycle.

Perhaps most bullish is ARK Invest, led by Cathie Wood, which maintains a base case of $1.2 million by 2030, with an optimistic scenario of $2.4 million and a conservative estimate of approximately $500,000.

As Bitcoin establishes itself above $99,000, investors are watching to see whether this psychological threshold becomes a new support level for further advances toward these institutional projections.

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