Bitcoin (BTC) Price reclaims $87K for the first time since April 3, 2025

After dipping below $84,500 not long ago, it's now bounced back and cruised past $87,000. This has definitely got investors thinking, why is Bitcoin going up?

Bitcoin (BTC) has continued its rally, reclaiming the $87,000 level for the first time since April 3.

The flagship cryptocurrency dropped to as low as $84,500 last week but has since bounced back.

Bitcoin price is now up over 10% from the lows hit last week as the cryptocurrency shrugged off the broader market sell-off.

Cryptocurrencies have been battered in recent weeks as U.S. macroeconomic data continues to pour in, putting pressure on the Federal Reserve to keep interest rates high for longer to tame inflation.

Earlier this week, the U.S. dollar index (DXY) dropped to its lowest level since November 2022, while gold prices rose to hit $3,390.

Both gold and Bitcoin usually rise when there is macro uncertainty in the markets, and investors are looking for safe havens to park their money in.

Bitcoin has also decoupled from tech stocks, which have seen some weakness in recent days. The S&P 500 slid further on Wednesday from the previous session.

However, Bitcoin seems to be forming its own trends, pushing higher even as the equity index slides.

Bitcoin price is now up around 15% from the lows hit last month, and the cryptocurrency seems to be forming a strong bottom.

But traders will be closely watching the $91,000 to $92,000 zone, which could pose a key resistance level.

At these prices, many of the buyers who participated in the last Bitcoin rally will be “in the money,” and they might be inclined to sell their cryptocurrency holdings to realize their gains.

This zone is known in crypto circles as a realized price resistance level, and it could pose a challenge for Bitcoin in the coming days and weeks.

Bitcoin price is still a long way from the all-time highs of around $104,000, hit earlier this year.

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