Bitcoin Surges Above $87,000 In Sudden Move — Here’s The Catalyst
Bitcoin reached $87,400 on April 21, marking its highest price since March 29, with an intraday increase of over $3,000. This rise coincided with a decline in the US dollar following comments about potential changes in Federal Reserve leadership. The dollar index fell to 98.182, while gold prices surged to $3,385 per ounce, reflecting a shift towards safe-haven assets. Analysts noted a divergence between Bitcoin and traditional risk assets, suggesting Bitcoin may be breaking its correlation with stocks and aligning more with gold. The Kobeissi Letter highlighted this trend, linking it to concerns over a weaker US dollar and trade policy uncertainties. Chart analysts indicated that Bitcoin must surpass $88,804 to confirm a bullish trend, with $94,000 identified as a key target. As of the latest update, Bitcoin was trading at $87,509.
