Bitcoin (BTC) has reclaimed bullish momentum, surging to $87,400 and marking its highest price point since March 28, according to TradingView. The recent upward movement positions Bitcoin firmly at the top of its range-bound channel, sparking breakout signals as it outperforms broader markets, including tech futures.
The rally, which started after Bitcoin dipped below $75,000 on April 9, has now gained more than 16% in less than two weeks. BTC has also climbed over $3,000 from its intraday low of $84,000 on April 20. This push has narrowed the gap from its all-time high to just 20%, fueling optimism among traders and analysts.
Breakout Confirmed Above $87K
Popular crypto analyst Scott Melker, also known as “The Wolf Of All Streets,” noted, “Bitcoin is breaking out,” even as Nasdaq futures slipped by 1%. This decoupling is seen by many as a signal of strengthening Bitcoin dominance, particularly amid a weakened U.S. equity outlook.
Analyst Rekt Capital added that BTC didn’t just break through its downtrend—it has “successfully retested it as support” for the first time since the downtrend began, a technical milestone often associated with the beginning of sustained rallies.
Bitcoin and Gold Align as USD Weakens
Market observers such as The Kobeissi Letter and Geiger Capital highlighted a growing correlation between Bitcoin and gold, both seen as hedges against a weakening U.S. dollar.
– Tech futures down
– Dollar down
– Gold new ATH
– Bitcoin breaking out/decouplingRealize where we are. pic.twitter.com/XqZRlEHj39
— Geiger Capital (@Geiger_Capital) April 21, 2025
“Gold has hit its 55th all-time high in 12 months and Bitcoin is officially joining the run,” Kobeissi shared on X. The sentiment reflects increased uncertainty around the U.S. economy and global trade.
The U.S. Dollar Index (DXY) has dropped 10% since the start of 2025, driven by escalating geopolitical tensions and trade disruptions. This decline has been a major tailwind for Bitcoin’s rebound, as investors seek alternative stores of value.
Analysts Proven Wrong as BTC Reverses Early April Slump
Some analysts previously expected BTC to fall to $83,000 over the Easter weekend based on order book dynamics, but Bitcoin has since invalidated that bearish thesis. Instead, it demonstrated resilience by reclaiming support levels and pushing toward a fresh breakout zone.
The technical structure now shows Bitcoin well-positioned to attempt a push toward its March highs and possibly beyond, should macroeconomic headwinds persist and liquidity continue to flow into digital assets.
Bitcoin Sets Stage for Potential Continuation Rally
With bullish sentiment growing, positive technical confirmation, and strong macro tailwinds including dollar weakness and gold’s rally, Bitcoin appears poised for further upside. However, traders should still exercise caution and monitor for sustained volume and volatility conditions that support further gains.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
