Bitunix Analyst: UK-US Trade Agreement Boosts Confidence, BTC Touches $104K

BlockBeats News, May 9th, U.S. President Trump and UK Prime Minister Starmor reached the first trade agreement, cancelling some non-tariff barriers, including the elimination of UK steel and aluminum tariffs, reducing U.S. car tariffs to 10% for the UK, and the UK revoking a 2% digital tax on U.S. e-commerce. This agreement helps to ease trade tensions and boost market confidence. However, the agreement is still framework-based, with no substantial concessions in sensitive areas, retaining a 10% baseline tariff, and the overall policy direction remains uncertain. Trump also stated that if U.S.-China negotiations progress smoothly, he will consider reducing tariffs.

Bitunix Analyst Suggestion: Driven by positive news, Bitcoin broke through 100K, rising to 104K at one point, with an intraday increase of over 7%. Progress in U.S.-China and UK-U.S. negotiations helps reduce geopolitical risks. However, it is not advisable to chase high after Bitcoin breaks out of its range in the short term. It is recommended to wait for a pullback to position oneself, while also paying attention to next week's CPI, PPI, and negotiation progress, and prudently allocate assets to avoid risks.