Bitcoin (BTC-USD) surged above $102,000 on Thursday to touch its highest level since late January.

The world’s largest cryptocurrency rose alongside the overall market after President Trump unveiled a trade deal with the UK, signaling a deescalation of tariffs.

Coinbase’s (COIN) announcement earlier in the day about the crypto exchange’s deal to acquire options platform Deribit for $2.9 billion also helped boost sentiment in the sector.

Bitcoin rose as much as 5% to trade north of $102,147 near 4:45 p.m. ET on Thursday after Trump spoke in the Oval Office earlier that day about the UK agreement and indicated other countries also want to strike trade deals with the US.

Bitcoin fell as low as $75,000 in the days following Trump’s “reciprocal” tariff announcement on April 2, otherwise known as “Liberation Day.”