The leading cryptocurrency Bitcoin (BTC) first gained momentum on Wednesday on news of renewed US-China trade talks, approaching $100,000 after US President Donald Trump said on Truth Social yesterday that “a significant trade agreement with a great and very respected country” would be announced on May 8th.
At this point, Bitcoin and altcoin investors are expecting Trump to announce a possible trade deal with the UK and BTC to exceed $100,000 and potentially break a new record following this announcement.
As the bullish expectations for Bitcoin continue, Bitcoin bull Cathie Wood’s company ARK Invest has published its Bitcoin report.
Ark Invest said in its April 2025 Bitcoin report that Bitcoin outperformed the S&P 500 in April and remains in a healthy bullish phase.
The report noted that BTC rose by nearly 14%, outperforming the S&P 500 despite mixed signals from inflation, sentiment, and tariffs.
Referring to the declines in Bitcoin, Ark Invest said that the correction rate remained below 30%, keeping Bitcoin technically in a bull market.
Noting that long-term investors are at their highest level of unrealized losses since 2018 and are holding approximately 3.5 million BTC, Ark Invest stated that this is a potentially oversold market and that the rise will continue.
Ark Invest concluded by stating that the market is not showing any signs of irrational exuberance and is in a healthy consolidation phase, maintaining a bullish outlook for Bitcoin and the cryptocurrency market.
*This is not investment advice.
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