Bitcoin 'breaking out' as it retakes $87K after early April slump
Summary
Bitcoin surged above $87,400 on April 21, marking its highest level since March 28. The asset has increased by over $3,000 from an intraday low of just over $84,000 on April 20 and has gained 16% since its 2025 low of just below $75,000 on April 9. This movement places Bitcoin at the upper bounds of a range-bound channel initiated in early March. The rise in Bitcoin aligns with gold reaching its 55th all-time high in 12 months, suggesting a weaker US Dollar and increased uncertainty. The US Dollar Index has declined 10% this year amid escalating global trade tensions. Bitcoin's breakout is noted alongside declines in tech futures and the USD.
