Bitcoin Surges Past $87K Amid Market Recovery: Key Trends to Watch
Bitcoin has demonstrated remarkable resilience, breaking past the $87,400 mark on April 21, its highest level since late March. This surge represents a 16% increase from its April 9 low of under $75,000, signaling a strong recovery despite broader market uncertainties. Notably, Scott Melker, known as ’The Wolf Of All Streets,’ highlighted Bitcoin’s breakout performance even as Nasdaq futures dipped by 1%. As the cryptocurrency market regains momentum, here’s a detailed look at the factors driving Bitcoin’s rally and the top cryptocurrencies to monitor this week.
Bitcoin ’breaking out’ as it retakes $87K after early April slump
Bitcoin prices have climbed to their highest level since late March, surging above $87,400 on April 21. The asset has gained 16% since its April 9 low of just below $75,000. Scott Melker, aka “The Wolf Of All Streets,” observed that ’Bitcoin is breaking out,’ despite Nasdaq futures being down 1%.
Top 3 Cryptocurrencies to Watch this Week - Market Recovery
The cryptocurrency market is experiencing another recovery. Bitcoin (BTC) has surpassed the $87,000 mark, and the global crypto market cap has risen 0.6% in the last 24 hours to $2.85 trillion. Most major crypto assets are trading in the green zone today. This surge serves as a beacon of hope for many investors amid global uncertainties. The market resurgence could be attributed to a rise in investor confidence following the settlement of recent trade tensions between the US and its partners. The low prices may have also prompted investors to buy at cheaper rates. Notably, BlackRock’s IBIT Bitcoin ETF purchased $81 million worth of Bitcoin on Apr. 17.
US Dollar Index Plunges to 3-Year Low, BTC Tops $87K
The US Dollar Index (DXY) has fallen to its lowest level for three years, hitting 98.23, amid escalating global trade tensions instigated by President Trump. This depreciation has also led to gold hitting an all-time high. BTC has surpassed $87K in value. The Index has retreated more than 10% since the beginning of this year due to Trump’s trade tariffs weakening the currency.
Top Bitcoin Price Predictions as BTC Soars Above $87.5K
Bitcoin’s price has surged above $87,500, sparking bullish predictions from top analysts. The cryptocurrency was relatively stable around $84,000-$85,000 but jumped at the start of the new business week. Scott Melker, the host of The Wolf of All Streets Podcast, noted that BTC has been breaking through descending resistance from the all-time high. While past cycle comparisons suggest further upside, technical indicators like the RSI hint at a possible short-term cooldown.
Bitcoin ETFs Rebound, But Inflows Hit 2025 Low
Last week, between April 14 and April 17, institutional investors added capital to BTC spot ETFs, bringing net inflows to $15.85 million. However, despite this positive shift in capital flow, the figure represents the lowest weekly net inflow recorded since the beginning of 2025, further confirming the slowdown in bullish sentiment. This slowdown comes amid escalating global trade tensions, introducing fresh uncertainty into financial markets.
Bitcoin Pushes Above $87K on Dollar Weakness Amid Trump’s Anti-Powell Messaging
Bitcoin surged past $87,600 on Monday, reaching its highest level since late March. The cryptocurrency ROSE more than 3%, erasing most of the losses triggered earlier this month by former US President Donald Trump’s actions. The jump came as the dollar weakened and US stock futures dipped due to Trump’s renewed efforts to remove Federal Reserve Chairman Jerome Powell, raising doubts over the Fed’s political independence.
