Bitcoin now Trades at over $90,000

Beulah Godfrey

April 22, 2025
3 min read

Bitcoin has crossed the $90,000 mark, hitting a major milestone after a strong 48-hour rally. The world’s most valuable cryptocurrency is now trading above $90,059.82, rising by 7.44% in the past week and 2.43% in the last 24 hours, according to market data.

The rally began on April 20 when Bitcoin traded at $83,445. Since then, it has bounced back from a market dip and gained momentum, fueled by growing demand from institutions, positive investor sentiment, and global economic changes. Yesterday, the coin traded at $87,400 before crossing $88,000 later that day, even as stock markets dropped. This move shows Bitcoin’s growing use as a hedge against economic uncertainty.

ETF Inflows and Weak Dollar Drive Bitcoin Up

Bitcoin trades at over $90,000 Bitcoin surges past $90,000/ Image Credit: Technext

By April 22, Bitcoin broke the $90,000 level, sparking excitement on social media. Analysts and investors pointed to two key reasons for the surge: strong inflows into Bitcoin ETFs and a falling US dollar. According to @AlvaApp, the dollar has dropped to a three-year low, pushing more people toward Bitcoin. @DiamondHandsDig noted that tensions between the US and China are also causing investors to shift their money into crypto.

Institutional investment has played a big role in this rally. Spot Bitcoin ETFs, approved in January 2024, now hold $110 billion in assets. That’s more than 1% of the entire ETF market. Experts believe these funds could grow to $190 billion by the end of the year. Big firms like BlackRock and Fidelity are also increasing their Bitcoin holdings. The recent appointment of Paul Atkins, a crypto-friendly figure, as SEC Chairman has raised hopes for smoother crypto regulations. President Trump’s support for digital assets is also boosting investor confidence.

Bitcoin Shows Strong Technical Signs

Bitcoin’s price trend looks strong. Its Relative Strength Index (RSI) is at 51.48, showing healthy demand without signs of being overbought. The coin is moving in an upward pattern, which usually signals steady buying. Data from CryptoQuant shows that fewer people are selling, with more investors holding onto their coins for bigger profits. The Fear & Greed Index sits at 30, showing cautious optimism in the market.

Several global events are pushing investors toward Bitcoin. The US dollar has lost value after President Trump suggested removing Federal Reserve Chair Jerome Powell. Trade tensions with China and fears of a new “cold war” are also pushing more people to invest in Bitcoin as a safe place for their money.

Another major factor is the recent Bitcoin halving in April 2024. This event cut mining rewards from 6.25 to 3.125 BTC per block, reducing the supply of new coins. In past cycles, Bitcoin surged after halvings. For example, after the 2020 halving, the coin rose by 650%. Analysts now predict Bitcoin could reach $168,000 or even $200,000 in 2025 if institutional demand continues to rise.

Bitcoin’s daily trading volume hit $67.28 billion, and its market cap now stands at $1.75 trillion. Many long-term investors are moving their coins off exchanges, suggesting they expect higher prices ahead. This rally has also helped other cryptocurrencies like XRP, Solana, and Cardano, which all gained over 5% in the last day.

Bitcoin’s jump above $90,000 marks a turning point for the crypto market. With more support from big investors, favorable regulations, and economic uncertainty around the world, Bitcoin looks set for further growth. Still, experts warn that risks like market corrections or unexpected regulatory changes could slow down the rally.