2 weeks Ago
Bitcoin continues its strong run, with the price reaching approximately $87,577 on April 21, 2025. This marks a 3.47% increase from the previous day, positioning the world’s leading cryptocurrency at its highest point since late March.
After several days of consolidation between $83,000 and $86,000, Bitcoin has now broken out of this range, signaling renewed bullish sentiment in the market. Bitcoin showed strong volatility throughout the session. The intraday low was recorded at $84,027 , while the intraday high touched $87,620 .
The wide trading range suggests renewed market participation, with traders and long-term holders reacting to both macroeconomic triggers and technical setups. This breakout has caught the attention of technical analysts, many of whom now set near-term resistance levels in the range of $90,000 to $92,000 . Momentum indicators and volume trends suggest the potential for continued upside, although key resistance must be convincingly breached.
A combination of global economic developments is contributing to Bitcoin’s latest surge. Chief among them is the decline in the U.S.
dollar’s strength , which often leads investors to seek alternatives like gold and cryptocurrencies. Former U.S.
President Donald Trump recently criticized Federal Reserve Chair Jerome Powell, claiming the Fed’s current policy trajectory is misguided. These statements have added political pressure on the central bank, raising concerns about its independence. This, in turn, has weighed on the U.
S. dollar and enhanced the appeal of decentralized assets like Bitcoin. Simultaneously, the People’s Bank of China announced that it added five tons of gold to its reserves, further indicating a trend of diversifying away from traditional fiat-based reserve holdings.
While this move directly affects gold, it also reinforces the growing global appetite for hard assets, including Bitcoin, which is increasingly seen as digital gold. Technical indicators are signaling strong bullish momentum: Golden Cross Formation : Bitcoin’s 50-day moving average has crossed above the 200-day moving average. This pattern, known as a “golden cross,” is considered a classic bullish signal and often attracts increased investor interest.
Bollinger Bands Widening : The Bollinger Bands have widened significantly, indicating increased volatility and potential for strong price movements. Prices moving along the upper band suggest a continuation of the bullish trend. MACD (Moving Average Convergence Divergence) : A recent bullish crossover in the MACD chart suggests continued upward momentum.
The histogram is expanding in the positive zone, reflecting growing market strength. RSI (Relative Strength Index) : The RSI is currently hovering around 68, which is approaching overbought territory but still allows room for further upside before reaching exhaustion. On-chain activity has picked up alongside price action, providing foundational support for the recent rally: Active Addresses : The number of active Bitcoin addresses has increased by over 3.
2% in the last week. This rise in network activity suggests heightened engagement from both retail and institutional participants. MVRV Ratio (Market Value to Realized Value) : The MVRV ratio stands at 3.
1 , indicating that investors, on average, are holding unrealized profits. Historically, readings above 3.5–4.
0 have marked overheated conditions, so the current level still allows for further price appreciation before reaching danger zones. Mining Difficulty and Hashrate : Mining difficulty remains high, reflecting network security and miner confidence in Bitcoin’s long-term price stability. The hashrate continues to trend upward, a bullish signal that underscores trust in the network’s profitability.
While spot Bitcoin ETF inflows remained flat on April 20, institutional sentiment remains constructive. Hedge funds, asset managers, and corporates continue to explore or expand exposure to Bitcoin as part of their diversified portfolios. The approval of spot Bitcoin ETFs earlier in the year has already laid the foundation for sustained institutional interest.
These ETFs have added legitimacy and easy access for large-scale investors looking to allocate funds to digital assets without directly handling wallets or private keys. Additionally, speculation around the potential approval of Ethereum ETFs is creating broader bullish sentiment across the crypto asset class. A rising tide in major cryptocurrencies often lifts the overall market, and Bitcoin continues to lead that momentum.
Bitcoin derivatives markets are also signaling optimism: Open Interest in Futures : Futures open interest has climbed, suggesting increased participation and capital inflows into the Bitcoin derivatives market. Funding Rates : Positive funding rates across major exchanges reflect long-biased positioning. While this suggests bullish sentiment, it also introduces the risk of liquidation cascades if the price reverses sharply.
Options Market : The options skew is currently favoring calls (buy-side), particularly in the $90,000–$95,000 range. This positioning aligns with market expectations of a continued rally in the short term. Beyond price action and speculation, Bitcoin adoption continues to expand.
Global merchants, payment providers, and fintech platforms are increasingly integrating Bitcoin payments. Governments in emerging markets continue to explore Bitcoin for remittance infrastructure and national reserve diversification. Meanwhile, established financial players are leveraging the Lightning Network for instant microtransactions and cross-border settlement capabilities.
These underlying adoption trends add credibility to the notion that Bitcoin is not merely a speculative asset but also a foundational element of the future digital financial ecosystem. With the breakout above $87,000, attention now turns to the next psychological level of $90,000 , followed by technical resistance at $92,000 . Should Bitcoin consolidate above $88,000 in the coming sessions, this could lay the groundwork for a sustained move higher.
On the downside, support levels exist at $84,500 and $81,800. A break below these would indicate weakness and could trigger a deeper correction . However, given the strong on-chain data, improving global sentiment, and macro tailwinds, the bullish scenario currently holds more weight.
Bitcoin has once again captured global attention with a decisive move above $87,500. Bolstered by favorable macroeconomic developments, growing institutional involvement, and solid on-chain fundamentals, the cryptocurrency appears poised for further gains. As the market enters a critical phase, traders and investors are closely watching upcoming economic data, Federal Reserve commentary, and geopolitical shifts—all of which could impact Bitcoin’s trajectory .
With the halving cycle completed and infrastructure maturing, Bitcoin stands at the center of an evolving financial narrative in 2025..
