The post Bitcoin Soars Above $87,000 In Sudden Move: Here’s The Catalyst appeared on BitcoinEthereumNews.com.

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. The Bitcoin price spiked to $87,400 on April 21, its highest level since March 29. The intraday rally added more than $3,000 to the asset in less than 24 hours, erasing a substantial portion of April’s drawdown. While the single‑day appreciation of about 4% is not unprecedented for the notoriously volatile asset, the backdrop that accompanied Monday’s advance has market participants treating the move with extra significance. Why Is Bitcoin Up Today? The most immediate macro‑economic thread was the sell‑off in the US dollar after National Economic Council Director Kevin Hassett told reporters on Friday that US President Donald Trump intends to replace Federal Reserve Chair Jerome Powell. The dollar index (DXY) slipped to 98.182 on Monday, while capital rotated simultaneously into traditional safe‑haven gold. Spot gold climbed to a new high at $3,385 per ounce, extending its 2025 gain to 28%. In contrast, S&P 500 and Nasdaq futures traded about 0.5% lower. Related Reading Observers seized on the divergence between Bitcoin and risk‑asset benchmarks. Financial author Mel Mattison wrote on X that he is “seeing more evidence tonight of BTC breaking its strong risk‑on/QQQ correlation,” recalling his January thesis that “this is the year BTC breaks that correlation and starts trading more in sympathy with gold.” Apollo founder Thomas Fahrer reached a similar conclusion: “Bitcoin is pumping while stock futures are trading down. It’s almost like the market is treating it like it’s an alternative financial system or…

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Filed under: News - @ April 21, 2025 8:19 am