Bitcoin 'breaking out' as it retakes $87K after early April slump
Bitcoin prices appear to be breaking out of an extended period of consolidation as the asset climbs to its highest level since late March. Bitcoin (BTC) surged above $87,400 on April 21, its highest price since March 28, according to TradingView. It has climbed by more than $3,000 from an intraday low of just over $84,000 on April 20. The asset has now gained 16% since its 2025 low of just below $75,000 on April 9, and the distance from its peak price has been reduced to 20%. While a 2.4% daily gain is not out of the ordinary for Bitcoin, it has moved the asset to the upper bounds of a range-bound channel that began in early March. “Bitcoin is breaking out,” while Nasdaq futures are down 1%, observed Scott Melker, aka “The Wolf Of All Streets.” BTC/USD 4-hour chart. Source: TradingviewBitcoin and gold correlation strengthens“The narrative in both gold and Bitcoin is aligning for the first time in years,” commented the Kobeissi Letter on X, observing gold’s recent all-time high and Bitcoin’s breakout.
Read the full article at cointelegraph.com
Source: cointelegraph.com
Published: April 21, 2025
