US dollar goes 'no-bid' — 5 things to know in Bitcoin this week
Bitcoin (BTC) is eyeing new April highs as macro instability suddenly delivers a tailwind for BTC price performance.Bitcoin is on the way up, nearing $88,000, but few market participants are willing to trust the strength of snap price moves.A new macro week dawns in the shadow of the US trade war, with Federal Reserve speakers lining up to take to the stage.Gold is shattering all-time highs again, but this time Bitcoin is starting to react.US dollar weakness exhibits historic traits as three-year lows spark bullish predictions for Bitcoin and commodities.The newest BTC hodlers are already profiting from the latest move, but speculators are waiting for a reclaimation of $91,000.BTC price spike met with skepticismBitcoin is starting the week off right with a 3% rise on the back of fresh macroeconomic turmoil amid the US-China trade war.BTC/USD reached $87,705 after the April 20 weekly close, data from Cointelegraph Markets Pro and TradingView shows, its highest in nearly three weeks.BTC/USD 1-hour chart. Source: Cointelegraph/TradingViewReacting, however, traders have been cautious, highlighting the unreliable nature of volatile moves that begin during non-TradFi trading hours on weekends.“Nice breakout, but it’s on low volume,” trading resource Stockmoney Lizards wrote in part of a response on X. “WIll definitely need confirmation. In any case, you shouldn’t be too euphoric yet.”Never like to trust a Sunday pump – lots of false breakouts here by the looks of it.
Read the full article at cointelegraph.com
Source: cointelegraph.com
Published: April 21, 2025
