Bitcoin Eyes $90K: 4 Key Forces Driving April’s Potential Bull Run
Global Stimulus, Weakening Dollar, and Miner Confidence May Propel BTC to New Highs
As Bitcoin (BTC) hovers near $85,000, market watchers are eyeing an even bigger move: a potential rally to $90,000 or more by the end of April. Despite turbulence in traditional markets, including a 5.7% drop in the S&P 500, Bitcoin surged over 14% from its earlier dip to $74,400. This divergence from equities has sparked renewed interest and speculation about what’s fueling the rise.
#1. Global Stimulus Floods Markets, Boosting BTC Appeal
Around the globe, central banks are turning on the stimulus taps—and investors are paying attention. In China, new bank loans rebounded by over $500 billion in March—20% more than analysts expected, according to Reuters. The People’s Bank of China (PBOC) has also pledged further stimulus in response to ongoing trade tensions.
In Europe, the European Central Bank (ECB) cut interest rates for the seventh time in a year, pushing rates to their lowest levels since 2022 in a bid to stimulate the eurozone economy. With inflation forecasts falling, the stage is being set for more liquidity, and by extension, more capital flowing into alternative stores of value like Bitcoin.
“Central banks are laying the groundwork for a surge in digital asset interest,” noted one analyst.
#2. Weakening US Dollar Strengthens Bitcoin’s Case
The US Dollar Index (DXY) has fallen to a three-year low, triggering concerns about the greenback’s ability to remain the world’s reserve currency in the face of rising debt and trade tensions.
Adding fuel to the fire, President Donald Trump has sharply criticized Fed Chair Jerome Powell, calling for lower rates and even hinting at Powell’s removal. Such political pressure on the Federal Reserve undermines confidence in the dollar’s long-term value.
“A weaker dollar tends to benefit hard assets like gold and Bitcoin,” said a market strategist. “And this environment is primed for BTC.”
#3. Bitcoin’s Decoupling from Traditional Markets Continues
Bitcoin’s current trajectory appears uncoupled from traditional assets like equities or even gold, which hit a record $3,358 on April 16. BTC, on the other hand, has rallied independently, raising eyebrows among institutional investors.
This “decoupling” indicates that Bitcoin is maturing into its own asset class, no longer moving in lockstep with legacy markets. That independence could be a crucial selling point as uncertainty grows across traditional finance.
#4. Miner Commitment Shows Long-Term Confidence Post-Halving
Since the April 2024 Bitcoin halving, many feared a miner exodus due to reduced rewards. But the opposite has occurred.
According to Blockchain.com, Bitcoin’s hashrate has increased by 8% compared to last month, signaling strong miner commitment. Notably, miners still hold close to 1.8 million BTC, per Glassnode—a sign they believe prices will continue climbing.
The Takeaway: BTC’s Rally May Just Be Getting Started
With global stimulus expanding, the dollar losing strength, and Bitcoin proving its resilience post-halving, momentum appears to be building. While short-term corrections remain possible, the path toward $90,000 in April is increasingly supported by macroeconomic and on-chain fundamentals.
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