Bitcoin Makes A Strong Comeback: The $87,000 Threshold Crossed
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Bitcoin is regaining strength by surpassing $87,000, marking its largest gain since the end of March. This increase comes in an uncertain economic context where gold and BTC align as safe-haven assets against a weakened dollar. Is a bullish breakout underway?
In brief
- Bitcoin crossed $87,000 on April 21, reaching its highest level since late March.
- Bitcoin bounces back 16% from its yearly low below $75,000 on April 9.
- Bitcoin’s rise is accompanied by a decoupling from traditional markets like Nasdaq.
- Bitcoin follows a trend similar to gold, driven by a weakening dollar.
- Bitcoin confirmed a bullish breakout by turning its former resistance into support.
Bitcoin surpasses $87,000: toward a new bullish cycle?
Bitcoin appears to be emerging from a long consolidation phase. On April 21, it crossed $87,400, its highest level since March 28, according to TradingView. This increase marks a rebound of over $3,000 in just 24 hours, after hitting a low of $84,000 the day before. Since its 2025 low, recorded on April 9 below $75,000, BTC has regained 16% of its value.
The gap with its all-time high is now reduced to 20%, signaling renewed optimism in the markets. Scott Melker, analyst known as “The Wolf Of All Streets,” pointed out that “Bitcoin is breaking upwards,” even as Nasdaq futures fall by 1%. A strong signal of decoupling.
BTC and Gold, closer than ever
This rally occurs amid a tense macroeconomic context. According to the Kobeissi Letter, bitcoin and gold send the same message: the weakness of the US dollar fuels uncertainty. Gold has just reached its 55th record high in one year, while BTC is beginning a similar bullish momentum. The dollar index (DXY) has dropped 10% since January 2025, due to increasing trade tensions. This decline benefits assets considered as safe havens.
On the Rekt Capital side, it was noted that bitcoin not only broke its downward trend but also successfully retested this zone as support — a first since the formation of this trend. While some anticipated a drop to $83,000 over the Easter weekend, BTC defied expectations. The trend now appears bullish.
With a return above $87,000, bitcoin confirms a bullish momentum supported by a favorable macroeconomic context. The dollar’s decline and gold’s performance strengthen its status as a safe-haven asset. The coming days will be decisive to validate this technical breakout and aim for new highs.
