Srinagar, May 8 -- Bitcoin surged past $99,000 early Thursday, hitting its highest level since February, fueled by optimism over a potential US-UK trade agreement hinted at by former President Donald Trump.

The world's largest cryptocurrency is now approaching its all-time high set in March, gaining 2.6% on the day after briefly topping $94,000, according to CoinGecko.

"MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY," Trump wrote on Truth Social late Wednesday, announcing a press conference for Thursday morning. The New York Times later confirmed the country involved is the United Kingdom.

The anticipated agreement may ease Trump-era tariffs, including a 10% general levy and additional charges on steel, a...