From Nasdaq. May 9, 2025 05:29 AM:

Bitcoin surged past $102,000, driven by U.S. trade optimism, Coinbase’s Deribit Acquisition, and rising institutional interest, up 7% for the week. Bitcoin-based ETFs hit three-month highs.

Trump’s new US-UK trade deal and positive China negotiations boosted market sentiment, including Bitcoin. Deals worth billions, especially in agriculture, caused market cheers.

Coinbase’s $2.9 billion Deribit acquisition lifted crypto sentiment, pushing Bitcoin higher. Quarterly earnings beat estimates, but revenues missed slightly.

Bitcoin rebounded from $75,000 post-Liberation Day crash, with risk-on sentiment improving. Standard Chartered analyst suggests $120,000 target may be too conservative.

Growing institutional interest supports Bitcoin rally, with major institutions entering the space, including MicroStrategy, Abu Dhabi’s sovereign wealth fund, and the Swiss National Bank.

Analyst reports 80 companies hold Bitcoin on balance sheets, collectively owning 3.4% of total supply, signifying long-term corporate treasury support. Institutional conviction deepens.

Read more at Nasdaq: Bitcoin Tops $102K for First Time Since January: ETFs in Focus