Bitcoin Breaks $87,000 ! Is This Just the Beginning ?
Bitcoin has just achieved a staggering performance, surpassing the $87,000 mark after a setback. Let's delve into the behind-the-scenes of this spectacular rise and decode market outlooks.
Bitcoin : A Spectacular Surge Marks the End of Consolidation
Bitcoin (BTC) has broken free from a long period of consolidation, reaching its highest level since late March. On April 21, 2025, BTC crossed the $87,400 mark, a peak not seen since March 28. This rapid increase represents a jump of over $3,000 from its intraday low of $84,000 on April 20.
Since hitting a low of $75,000 on April 9, 2025, Bitcoin has climbed 16%, narrowing the gap with its all-time high to just 20%. Although this daily increase of 2.4% is not exceptional for such a volatile asset, it has propelled BTC towards the upper bound of a consolidation channel formed in early March.
A Convergence with Gold
“For the first time in years, Bitcoin and gold are telling the same story,” analyzed the CryptoVision account on X, highlighting the recent all-time high of gold and Bitcoin’s breakthrough. “Gold is marking its 55th peak in a year, and Bitcoin is joining the party,” added the team, suggesting that these two assets signal increasing distrust in the US dollar and heightened economic uncertainty.
The Dollar Index (DXY), which measures the currency against a basket of six major currencies, has dropped by 10% since January, amidst international trade tensions.
The DXY is at its lowest level since March 2022, which could propel Bitcoin towards $90,000.
This momentum was also noted by analyst “Horizon Crypto,” who observed Bitcoin decoupling from traditional markets. “Nasdaq down, dollar weakening, gold at a new high, and Bitcoin soaring: we are at a turning point,” he tweeted. XForce Global, on the other hand, predicts an Elliot “wave 5” and a new rally in the coming weeks.
A Strong Technical Support
While some analysts anticipated a correction towards $83,000 over the weekend, citing exchange order books, Bitcoin defied these predictions. On April 19, analyst “CryptoPulse” noted that BTC “not only broke its downtrend but also retested that level as support for the first time since the trend formation.” This technical signal reinforces confidence in a continuation of the bullish momentum.
With a short-term target of $90,000 mentioned by some experts, Bitcoin seems poised to defy expectations. As macroeconomic uncertainties intensify, the asset continues to establish itself as a safe haven, attracting both institutional investors and individuals. This breakthrough could signal the start of a new growth phase, with attention now turning to a possible return to historical highs.
Charles Ledoux
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
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This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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