Bitcoin on Thursday hit its highest level since February after President Donald Trump said the U.S. has reached a trade agreement with the United Kingdom.

The price of the flagship cryptocurrency was last higher by more than 3% at $99,293.54, according to Coin Metrics. Earlier, it rose as high as $99,897.00.

The move began overnight after Trump first teased the announcement between the U.S. and the UK, which the New York Times reported Wednesday, on Truth Social. In a later post he called it a “full and comprehensive one that will cement the relationship” between the two countries. There will be a news conference at 10 a.m. ET to announce the deal.

Stock futures rose broadly on the news, with the Dow Jones Industrial Average futures up about 300 points. Coinbase and Strategy each gained about 4% premarket.

Other cryptocurrencies, which have struggled to keep pace with bitcoin this year, rallied. Ether jumped 9%, while the token tied to Solana gained 6% and dogecoin rose 8%.

Since April 3, the day after President Donald Trump introduced the initial tariff policy that rocked markets for several weeks, bitcoin is up about 15%. In the same period, spot gold has gained 7% while the S&P 500 is flat.