Source: Cointelegraph.com NewsBitcoin (BTC) is eyeing new April highs as macro instability suddenly delivers a tailwind for BTC price performance.<\/p>\n
Bitcoin is on the way up, nearing $88,000, but few market participants are willing to trust the strength of snap price moves.
\nA new macro week dawns in the shadow of the US trade war, with Federal Reserve speakers lining up to take to the stage.
\nGold is shattering all-time highs again, but this time Bitcoin is starting to react.
\nUS dollar weakness exhibits historic traits as three-year lows spark bullish predictions for Bitcoin and commodities.
\nThe newest BTC hodlers are already profiting from the latest move, but speculators are waiting for a reclaimation of $91,000.<\/p>\n
BTC price spike met with skepticism
\nBitcoin is starting the week off right with a 3% rise on the back of fresh macroeconomic turmoil amid the US-China trade war.
\nBTC\/USD reached $87,705 after the April 20 weekly close, data from Cointelegraph Markets Pro and TradingView shows, its highest in nearly three weeks.
\nBTC\/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.
\n\u201cNice breakout, but it\u2019s on low volume,\u201d trading resource Stockmoney Lizards wrote in part of a response on X.\u00a0
\n\u201cWIll definitely need confirmation. In any case, you shouldn’t be too euphoric yet.\u201d<\/p>\n
Never like to trust a Sunday pump – lots of false breakouts here by the looks of it. Lets see what next week brings pic.twitter.com\/cVE1j1Gh63\u2014 Honeybadger (@HoneybadgerC) April 21, 2025<\/p>\n
Fellow trading account IncomeSharks shared similar views, saying that BTC price strength must continue in the face of weak equities.
\n\u201cNice to see the downtrend breakout but the timing is important,\u201d it said.
\n\u201cSunday is not a day to celebrate a low volume pump while stock markets are closed. If you want to see a bullish moves lets see stocks open red tomorrow and keep this candle green. Then we can have fun.\u201d
\nBTC\/USD 1-day chart. Source: IncomeSharks\/XCrypto trader, analyst and entrepreneur Micha\u00ebl van de Poppe continued the lukewarm reaction to the upside on both Bitcoin and gold, predicting that they \u201cprobably will give it back.\u201d
\n\u201cNeeds to get above $88,804 to break the series of lower highs and lower lows,\u201d trader, analyst and podcast host Scott Melker, known as the \u201cWolf of All Streets,\u201d added.\u00a0
\n\u201cIs it time?\u201d
\nFed policy in spotlight as officials speak
\nThe coming days will see the Federal Reserve take the spotlight as senior officials comment on the current macroeconomic landscape.
\nA total of eight Federal Reserve presidents will shed fresh light on what is an increasingly contentious status quo for the US, with the Fed at odds with demands from President Donald Trump.
\nLast week, Trump even called for Fed Chair Jerome Powell to be fired, a move that sparked concerns over US economic stability.
\nPowell has repeatedly come out hawkish on financial policy, hinting at being in no rush to lower interest rates as Trump\u2019s trade war fuels inflation concerns.
\nThe latest data from CME Group\u2019s FedWatch Tool reflects this, with traders seeing a rate cut likely only at the Fed\u2019s June meeting.
\nFed target rate probabilities for June FOMC meeting. Source: CME GroupWith little by way of new macro data due for release, however, markets will continue to focus on the trade war itself, along with the volatility it often creates.
\nThe start of the week has been no exception so far; China issuing warnings over collaboration with the US to isolate it immediately sent stock futures tumbling while gold soared to new all-time highs.
\nBitcoin, in a break with recent tradition, managed to copy gold\u2019s optimism instead of following equities lower.
\n\u201cGold has hit its 55th all-time high in 12 months and Bitcoin is officially joining the run, now above $87,000,\u201d trading resource The Kobeissi Letter responded in part of an X post on the topic.\u00a0
\n\u201cThe narrative in both Gold and Bitcoin is aligning for the first time in years: Gold and Bitcoin are telling us that a weaker US Dollar and more uncertainty are on the way.\u201d<\/p>\n
Gold nears record $3,400 on trade war fears Source: Cointelegraph.com NewsBitcoin (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… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127602"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127602"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127602\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127602"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nGold remains the standout bullish story for 2025.
\nAmid the uncertainty wrought by the trade war and its potential long-term impact on inflation and global assets, XAU\/USD has exploded nearly 30% year-to-date.
\nThe pair is currently circling a record $3,400 per ounce, and while some have warned that a \u201cblow-off top\u201d is due, momentum refuses to slow down.
\nXAU\/USD 1-day chart. Source: Cointelegraph\/TradingViewKobeissi suggested that Trump\u2019s latest trade-war post on social media, in the form of a \u201cnon-tariff cheating\u201d sheet, helped reignite gold\u2019s relentless march higher.
\n\u201cPresident Trump\u2019s \u2018non-tariff cheating\u2019 list is arguably one of the best things to happen to gold all year,\u201d it argued.
\n\u201cGold knows what’s coming next.\u201d
\nKobeissi\u00a0revealed\u00a0that gold had, in fact, outperformed the S&P 500 since the COVID-19 cross-market crash in March 2020.
\nFor Bitcoin, however, change appears to be afoot. As Cointelegraph reported, BTC\/USD has finally begun to mimic gold\u2019s reaction to macro uncertainty after spending months in a downtrend.
\nAs that downtrend is slowly left behind, talk is turning to historical precedent. In the past, Bitcoin breakouts have lagged gold by around three months.
\n\u201cAfter futures opened it didn\u2019t take long for $BTC and $GOLD to move up quickly as equities moved down,\u201d trader Daan Crypto Trades told X followers.\u00a0
\n\u201cPretty interesting move which is now compounding on the relative strength BTC has already been showing for weeks.\u201d
\nBTC\/USD vs. XAU\/USD 1-day chart. Source: Cointelegraph\/TradingViewDollar strength plumbs new 3-year lows
\nAdding to the mix is fresh US dollar weakness, something that hedge fund creator Andreas Steno Larsen described as a \u201cgood early sign for Bitcoin.\u201d
\n\u201cWe ain\u2019t seen nothing yet, if this continues (and if Powell is laid off),\u201d he argued on X alongside a chart of BTC versus USD returns.\u00a0
\nBitcoin vs. USD returns. Source: Andreas Steno\/XThe US Dollar Index (DXY), which tracks greenback strength against a basket of major US trading partner currencies, was down another 1.3% on April 21 at the time of writing. This, in turn, brought the year-to-date downside to nearly 10%.
\nNow at its lowest levels since March 2022, DXY is being heralded as the powder keg to spark a giant bull run in both Bitcoin and commodities.
\n\u201cThe US Dollar has gone \u2018no bid,\u2019 teetering on a historic 14-yr uptrend breakdown from 2011,\u201d trading resource Rock Bottom Entries told X followers.\u00a0
\n\u201cForget 2016 & 2020\u2014this will ignite a 2000s-style commodity supercycle.\u201d
\nUS Dollar Index (DXY) 1-month chart. Source: Cointelegraph\/TradingViewBitcoin traditionally outperforms to the upside during periods of rapid DXY suppression, an inverse correlation that has been lacking in recent times.
\n\u201cContrary to what you hear on social media, Bitcoin has been in lockstep with DXY for a couple of years,\u201d analyst Joe Dean thus commented on the phenomenon.\u00a0
\n\u201cDXY overshot to the upside, then the downside, and will likely find its way back to the mean. $BTC will likely follow.\u201d
\nUS dollar index (DXY) vs. BTC\/USD chart. Source: Joe Dean\/XBitcoin newbies back in the black
\nShort-term BTC price moves are already making a tangible difference to certain Bitcoin investor cohorts.
\nRelated: Bitcoin prepares for launch from $85K, BNB, HYPE, TAO and RNDR could follow
\nNew research from onchain analytics platform CryptoQuant reveals that even a tap of $87,000 has placed the most recent set of buyers in the black, with an average 3.7% profit.
\n\u201cThis is a short-term bullish signal, showing renewed confidence and reduced panic risk among the newest market entrants,\u201d CryptoQuant contributor Crazzyblockk wrote in one of its \u201cQuicktake\u201d blog posts.
\nThe move comes in contrast to the large short-term holder (STH) cohort, comprised of buyers up to six months old, which has an aggregate cost basis of $91,000.
\nAs Cointelegraph reported, STH cost bases can act as both support and resistance for extended periods as speculative hodlers react to sudden price swings.
\n\u201cUntil BTC closes above the $91K threshold, Short-Term Holders remain in loss. This may sustain latent sell pressure, especially if price momentum weakens \u2014 reinforcing the importance of a decisive breakout above STH realized price to neutralize this overhang,\u201d CryptoQuant added.
\nBitcoin STH profitability (screenshot). Source: CryptoQuantThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"