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

On May 9th, US President Trump and UK Prime Minister Starmor reached the first trade agreement. Some non-tariff barriers were cancelled, including the elimination of UK steel and aluminum tariffs. US car tariffs were reduced to 10% for the UK. The UK also revoked a 2% digital tax on US e-commerce. This agreement helps to ease trade tensions and boost market confidence. However, the agreement is still in a framework-based form, with no substantial concessions in sensitive areas. A 10% baseline tariff was maintained, and the overall policy direction remains uncertain. Trump also stated that if US-China negotiations progress smoothly, he will consider reducing tariffs. Bitunix Analyst Suggestion: Driven by positive news, Bitcoin broke through 100K and rose to 104K at one point, with an intraday increase of over 7%. The progress in US-China and UK-US negotiations helps to reduce geopolitical risks. However, in the short term, it is not advisable to chase high after Bitcoin breaks out of its range. It is recommended to wait for a pullback to take a position. At the same time, attention should be paid to next week's CPI, PPI, and negotiation progress, and assets should be allocated prudently to avoid risks.