Bitcoin (BTC) Breaks Above $87,000 to Its Highest Price Since Late March

Bitcoin (BTC) surged above $87,400 on April 21, its highest price since March 28, according to TradingView.

Bitcoin prices appear to be breaking out of an extended period of consolidation as the asset climbs to its highest level since late March.

According to TradingView data, Bitcoin (BTC) surged above $87,400 on April 21, its highest price since March 28. It has climbed by more than $3,000 from an intraday low of just over $84,000 on April 20.

The asset has now risen by 16% from its 2025 low of just below $75,000 on April 9, while the distance from its peak price has been reduced to 20%.

While a 2.4% daily gain is not something that might usually interest traders, it has moved Bitcoin to the upper bounds of a range-bound channel that began in early March.

“Bitcoin is breaking out,” while Nasdaq futures are down 1%, observed Scott Melker, aka ‘The Wolf Of All Streets.’

(BTC price on April 21, 2024. Credit: TradingView)

The narrative in both gold and Bitcoin is aligning for the first time in years,’ commented the Kobeissi Letter on X, observing gold’s recent all-time high and Bitcoin’s breakout.

‘Gold has hit its 55th all-time high in 12 months and Bitcoin is officially joining the run,’ it stated before adding: The US dollar Index (DXY), which is a measure of the greenback against a basket of six major currencies, has declined 10% since the beginning of this year as global trade tensions escalate.

The move was also observed by ‘Geiger Capital,’ which also observed the decline in tech futures and the USD, adding that Bitcoin was ‘decoupling.’

Tech futures downDollar downGold new ATHBitcoin breaking out/decouplingRealize where we are. https://t.co/x847wB7I68

— Geiger Capital (@Geiger_Capital) April 20, 2024Some analysts had predicted a fall to $83,000 over the Easter weekend, citing exchange order books, but BTC appears to have defied them.

On April 19, analyst Rekt Capital observed that Bitcoin hadn’t just broken the downtrend, it ‘successfully retested it as support for the first time since downtrend formation.’