On April 22, Bitcoin rose to $83,342 despite US equities declining, driven by President Trump’s criticisms of the Federal Reserve. The US Dollar Index fell to a three-year low due to recession fears. Bitcoin’s price must surpass $90,000 for continued upside, as analysts highlight critical resistance points. Amidst macroeconomic instability, Bitcoin is viewed increasingly as a safe haven asset.
Bitcoin (BTC) displayed a positive trend on April 22, reaching a value of $83,342, up 1% in 24 hours. The cryptocurrency notably ascended from a low of $85,134 on April 21 to an intraday high of $88,874, as indicated by data from CoinMarketCap and TradingView. This uptick in Bitcoin’s price occurred amid a downturn in US equities, exacerbated by President Donald Trump’s criticisms of Federal Reserve Chair Jerome Powell regarding interest rate adjustments.
The US Dollar Index (DXY) has experienced a significant decline, dropping by 6% since early April, hitting a three-year low of 97.92 on April 21. The persistent uncertainties surrounding Trump’s policies, including his new tariffs, have intensified recession fears and resulted in a sell-off of US assets. His recent suggestions that the Federal Reserve should lower interest rates have further undermined confidence in the US economic outlook.
This environment has led to a disconnect between the dollar and rising Treasury yields, prompting investors to gravitate towards safe-haven assets. For instance, gold has seen a considerable gain of 30% in 2025. In similar fashion, Bitcoin has differentiated itself from traditional US equities; its price has increased by 3% over the week, while notable US indices like the S&P 500 and Dow Jones have experienced losses of 5.21% and 5.86%, respectively.
The correlation between the chaos surrounding tariffs and recession fears is a primary factor in Bitcoin’s emerging status as a ‘safe haven’ and an inflation hedge. Should the current policies persist, the risk of de-dollarization may heighten, posing challenges to the dollar’s status as the global reserve currency.
However, Bitcoin faces resistance around the $90,000 threshold, which has hindered its latest rally. Analysts indicate that maintaining a price above this point is crucial for sustaining a recovery trend and potentially reaching $100,000 before month-end. Analyst AlphaBTC notes that Bitcoin is currently positioned at a critical resistance level and must surpass the $89,000 mark to avoid a corrective decline towards the psychological level of $80,000.
CryptoQuant’s research head, Julio Moreno, also highlights that the price range between $91,000 and $92,000 represents a significant threshold for Bitcoin traders. Historically, this range acts as resistance when the market sentiment is bearish, a sentiment that currently characterises Bitcoin’s trading environment. The coming days will be pivotal in determining whether Bitcoin can reclaim its momentum towards $100,000.
