Bitcoin Surges to $87,400, Highest Price Since March 28

Bitcoin’s price surged to $87,400 on April 21, its highest since March 28. After hitting a low of $75,000 on April 9, it has risen over 16% and is just 20% below its all-time high. This rally coincides with an increase in gold prices, suggesting a trend toward alternative assets amidst a weakening US dollar.

On April 21, Bitcoin traded above $87,400, marking its highest price level since March 28, according to CoinMarketCap. The cryptocurrency has surged by over $3,000 from an intraday low of $84,050 on April 20, signalling a positive trend after a period of consolidation.

Since reaching a 2025 low around $75,000 on April 9, Bitcoin has appreciated more than 16%. It is currently positioned only 20% below its all-time high, reviving optimism within the cryptocurrency market. Scott Melker, known as “The Wolf of All Streets,” noted Bitcoin’s breakout despite a 1% decline in Nasdaq futures, highlighting its position at the peak of a two-month range channel.

Bitcoin’s price rally coincides with a surge in gold, with The Kobeissi Letter pointing out the emerging narrative shared between both assets for the first time in years. Gold has recently achieved its 55th all-time high within the past year, underscoring a trend driven by a weakening US dollar and increasing investor uncertainty.

The US Dollar Index (DXY) has fallen by 10% since the start of 2025, attributed to escalating global trade tensions. Furthermore, Geiger Capital observed Bitcoin’s apparent decoupling from traditional market movements. Despite earlier predictions of a drop to $83K, Bitcoin defied expectations by breaking its downtrend and establishing new support levels, as evidenced by the analysis from Rekt Capital.