Bitcoin Surges Past $100,000 as Tariff Concerns Ease
Outlook for Virtual Assets Brightens with Reduced Uncertainty
The price of the virtual asset Bitcoin has recovered to $100,000 for the first time in about three months. This rebound is attributed to a diminished concern over U.S. tariff policies, which has increased investor appetite for risk assets. Expectations for virtual assets such as Bitcoin are once again on the rise.
According to CoinMarketCap, a global virtual asset market tracking site, as of 10:04 a.m. on May 13, the price of Bitcoin stood at $102,418. Bitcoin regained the $100,000 mark on May 8, after about three months. In January of this year, Bitcoin reached an all-time high of $109,000. However, due to tariff policies implemented by U.S. President Donald Trump, the price declined and fell to $76,000 last month.
Altcoins (virtual assets other than Bitcoin) also showed an upward trend. For example, Ethereum rose from $1,470 on April 9 to $2,400 on May 13, and during the same period, Ripple (XRP) jumped from $1.8 to around $2.5.
The recent rally was driven by signs that concerns over Trump’s tariff policies are easing. The United States and the United Kingdom recently reached a trade agreement. This is the first agreement reached about a month after the United States announced reciprocal tariffs by country on April 2. Most notably, the agreement between the United States and China on tariffs reached over the past weekend was decisive. The two countries agreed to sharply lower reciprocal tariffs to 10% and to apply this rate for 90 days starting from May 14.
Kim Minseung, head of the Korbit Research Center, explained, "On the morning of May 8, President Trump posted on his Truth Social account that he would announce a 'major trade agreement.' It appears that investor sentiment has improved significantly since then."
Park Sanghyun, a researcher at iM Securities, stated, "The fact that tariff negotiations with individual countries have been concluded means that the likelihood of reaching agreements with major trading partners before the expiration of the reciprocal tariff grace period has increased. This atmosphere has led to a sharp rise in the prices of major risk assets such as Bitcoin and other virtual currencies."
In particular, the fact that Bitcoin has recovered to $100,000 while U.S. interest rates remain unchanged is significant. The recent Federal Open Market Committee (FOMC) has maintained the benchmark interest rate for three consecutive meetings. Considering that investor preference for risk assets typically increases when rates are cut, the current rally in virtual assets demonstrates strong momentum.
Although there has been some correction since Bitcoin surpassed $100,000, the upward trend is expected to continue. This is because concerns over tariff policies, which have been a source of instability in financial markets, continue to subside. In addition, if the United States introduces further virtual asset policies, the bullish trend in altcoins is also expected to continue. BlackRock, the world's largest asset management company, recently met with the Securities and Exchange Commission (SEC) virtual asset task force to propose introducing a staking feature to Ethereum-based exchange-traded funds (ETFs).
Kim Minseung commented, "If uncertainties surrounding the 'tariff war,' including U.S.-China trade negotiations, are resolved and investor sentiment recovers, we can expect further gains in virtual assets such as Bitcoin. In particular, gestures such as the SEC's potential approval of Ethereum ETF staking could serve as a catalyst for the rise of altcoins."
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