Bitcoin Surges Past $87K: Bullish Breakout Signals Shift in Crypto Market Momentum
Bitcoin defies bearish predictions, gaining 16% since early April and aligning with gold amid a weakening U.S. dollar.
Bitcoin Breaks Free: Highest Levels Since March Signal Bullish Momentum
Bitcoin is turning heads again. After weeks of uncertainty and range-bound trading, Bitcoin (BTC) surged above $87,400 on April 21, marking its highest price since March 28, according to data from TradingView.
The cryptocurrency has rallied by more than $3,000 from an intraday low of $84,000 on April 20, signaling a notable 16% gain since hitting a 2025 low of just under $75,000 on April 9. The move puts Bitcoin back within 20% of its all-time high, an encouraging sign for bulls watching from the sidelines.
Although a 2.4% daily gain may not seem dramatic by Bitcoin’s standards, this price move has pushed the asset to the upper boundary of a trading range that has persisted since early March.
“Bitcoin is breaking out,” noted market analyst Scott Melker, better known as The Wolf Of All Streets, adding that the move comes as Nasdaq futures slumped by 1%—a sign of Bitcoin’s strengthening independence from traditional markets.
Gold and Bitcoin: A Bullish Duo in a Time of Dollar Decline
Bitcoin’s recent climb isn’t happening in isolation. Gold has reached its 55th all-time high in 12 months, and many analysts are seeing the two assets moving in lockstep.
“Gold and Bitcoin are telling us that a weaker US Dollar and more uncertainty are on the way,” stated The Kobeissi Letter in a post on X (formerly Twitter).
The correlation is catching the eye of traders who, until recently, viewed Bitcoin as lagging behind gold. But the tide may be turning.
At the core of this convergence is the US Dollar Index (DXY), which measures the strength of the greenback against six major currencies. The DXY has plummeted by 10% since the beginning of 2025, reflecting growing concerns about U.S. economic stability and global trade tensions.
Bitcoin Defies Easter Weekend Bears
Some market watchers had anticipated a fall to $83,000 over the Easter weekend, citing sell pressure visible in exchange order books. But Bitcoin proved resilient, once again refusing to follow the script.
On April 19, technical analyst Rekt Capital shared insights showing that Bitcoin didn’t just break its recent downtrend—it also successfully retested it as new support, for the first time since the formation of the downturn.
This move offers a strong technical signal that Bitcoin’s correction phase could be over, ushering in a potential period of renewed upside momentum.
Meanwhile, Geiger Capital observed that Bitcoin appears to be “decoupling” from both tech futures and the U.S. dollar—a rare and bullish divergence in current market conditions.
What’s Next for Bitcoin?
With the cryptocurrency’s price now hovering around $87,000, the next critical level for BTC to reclaim is $91,000, where many short-term holders are still underwater. A break above that threshold could trigger the next leg in Bitcoin’s bull run—possibly in sync with rising gold and falling dollar strength.
As uncertainty continues to weigh on traditional financial markets, Bitcoin’s breakout may mark the start of a fresh cycle—one that could see crypto asserting itself as a key safe-haven asset in 2025.
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