The cryptocurrency industry received a wave of positive news this week, sending the price of Bitcoin over $100,000 for the first time since the beginning of February after it dropped to the $74,000 range last month.

The upswing in prices is consistent with the cryptocurrency's broader bullish technical setup and buoyant risk sentiment in traditional markets. As of this writing, the Asian stocks traded higher, with the futures tied to the S&P 500 up by 0.6%.

Bitcoin surpassed $100,000 for the first time since February on Thursday as President Donald Trump announced a trade agreement with the United Kingdom and plans to meet with Chinese president Xi Jinping in Geneva later this week.