Bitcoin surged to over $99,000, reaching its highest price since February, driven by President Trump's hint of a potential trade deal with the UK. The asset is now approaching its all-time high from March, with significant support noted from traders considering Trump's administration as a stabilizing factor for the market. The Federal Reserve's decision to maintain interest rates also contributed to the bullish sentiment, keeping them at 4.25%-4.50%. However, analysts advise caution, suggesting that the recent rally may not be sustainable without concrete policy actions. Notably, the market is observing a decoupling of Bitcoin from traditional equities, indicating its role as a diversifier rather than a true safe haven. Traders are wary that the current market optimism might be overextending, given ongoing uncertainty in trade negotiations with China and rising inflation. Nansen's analysis shows a dropping equity risk premium, hinting that downside risks are being underestimated despite the present euphoria around Bitcoin.

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