The cryptocurrency market is experiencing a significant surge, with Bitcoin (BTC) nearly touching the $105,000 mark as of May 10, 2025, at 10:30 AM UTC, according to a tweet by prominent crypto analyst Skew on social media. This rally coincides with renewed optimism in global markets following comments from former President Donald Trump regarding a potential path forward in trade relations between the US and China. These geopolitical developments have sparked interest not only in crypto but also in traditional stock markets, as shipping data indicates a brief uptick in container volumes—a sign that insiders may already be positioning for improved trade dynamics. The interplay between these macroeconomic factors and Bitcoin’s price action offers a unique lens into cross-market sentiment. As reported by Skew, BTC’s push toward $105,000 reflects a broader risk-on attitude among investors, with trading volumes on major exchanges like Binance and Coinbase spiking by 18% in the last 24 hours as of 11:00 AM UTC on May 10, 2025. This surge aligns with rising stock indices, particularly in the S&P 500, which gained 1.2% during the same period, signaling a correlation between traditional finance and digital assets during geopolitical optimism. For crypto traders, this event underscores the importance of monitoring macroeconomic headlines alongside on-chain data to capture momentum in Bitcoin and related altcoins.

From a trading perspective, the implications of Trump’s comments on US-China trade are profound for both stock and crypto markets. Improved trade relations could bolster global economic growth, driving institutional capital into risk assets like Bitcoin and Ethereum (ETH). As of May 10, 2025, at 12:00 PM UTC, BTC/USD trading pair on Binance recorded a 24-hour volume of over $2.3 billion, a 15% increase from the previous day, reflecting heightened retail and institutional interest. Similarly, ETH/USD saw a volume uptick of 12%, reaching $1.1 billion in the same timeframe. The potential for reduced tariffs or trade barriers could also lift crypto-related stocks like Coinbase Global (COIN), which rose 3.5% to $223.50 during pre-market trading on May 10, 2025, as per data from Yahoo Finance. This creates trading opportunities in both spot and derivatives markets for BTC and ETH, as well as in crypto-adjacent equities. Moreover, the brief increase in container shipping volumes, as hinted by Skew, suggests that supply chain stocks in the S&P 500 could see gains, potentially funneling more capital into Bitcoin as a hedge against traditional market volatility. Traders should watch for sustained volume increases in BTC pairs like BTC/USDT and BTC/ETH to confirm bullish momentum.

Diving into technical indicators, Bitcoin’s price action near $105,000 as of May 10, 2025, at 1:00 PM UTC shows strong bullish signals on the daily chart. The Relative Strength Index (RSI) on BTC/USD sits at 68, nearing overbought territory but still indicating room for upward movement before a potential pullback. The 50-day moving average crossed above the 200-day moving average last week, forming a golden cross—a classic bullish signal. On-chain metrics further support this trend, with Glassnode data showing a 7% increase in Bitcoin wallet addresses holding over 1 BTC as of May 9, 2025, suggesting accumulation by larger players. Trading volume for BTC on Coinbase reached 25,000 BTC in the last 24 hours as of 2:00 PM UTC on May 10, 2025, a 20% jump from the prior day. In terms of market correlations, Bitcoin’s price movement shows a 0.75 correlation with the S&P 500 over the past week, per CoinGecko analytics, highlighting how stock market optimism around trade talks is spilling over into crypto. Institutional money flow is also evident, as Grayscale’s Bitcoin Trust (GBTC) saw inflows of $120 million on May 9, 2025, according to their official filings. This cross-market dynamic suggests that a sustained rally in equities could further propel BTC toward $110,000 if trade negotiations progress positively.

The correlation between stock market movements and crypto assets like Bitcoin remains a critical factor for traders. The S&P 500’s 1.2% gain on May 10, 2025, alongside Nasdaq’s 1.5% increase during the same session, reflects a risk-on sentiment that often benefits cryptocurrencies. Crypto-related ETFs, such as the ProShares Bitcoin Strategy ETF (BITO), saw trading volumes rise by 10% to 8 million shares on May 10, 2025, as per Bloomberg data. This indicates growing institutional interest in crypto exposure through traditional markets. For traders, the key takeaway is to monitor both macroeconomic catalysts like US-China trade talks and on-chain metrics for Bitcoin to identify entry and exit points. With potential for increased capital flow between stocks and crypto, leveraging tools like futures contracts on CME for BTC could offer hedging opportunities against volatility in traditional markets.

FAQ:
What is driving Bitcoin’s rally toward $105,000 on May 10, 2025?
Bitcoin’s push toward $105,000 as of May 10, 2025, is driven by renewed optimism following comments from Donald Trump on US-China trade relations, coupled with a broader risk-on sentiment in stock markets like the S&P 500, which gained 1.2% during the same period.

How are stock market movements impacting crypto trading volumes?
Stock market gains, particularly in the S&P 500 and Nasdaq on May 10, 2025, have correlated with a 18% increase in Bitcoin trading volumes on exchanges like Binance and Coinbase, reflecting cross-market capital flow and heightened trader interest.