Bitcoin reclaims the $87,000 level, while XRP Flashes Bearish Signals and Dogecoin Celebrates “Dogeday”

Bitcoin BTC/USD has broken out from its range-bound channel and is currently trading at $87,400. The asset has great momentum

Bitcoin price broke a key range and soared above the $87,000 level on Friday, while XRP flashed concerning technical patterns despite its recent 30% bounce.

What Happened: Bitcoin price is displaying different levels of strength as the crypto market shows mixed signals with the coin staging an impressive comeback.

Ranging inoperability in Bitcoin price is a key theme for 2025 as the token recovered more than $3,000 from its intraday low to trade above $87,400 at press time. The asset is now trading at its highest level since late March.

This 16% increase from a low of $75,000 on April 9 comes as the DXY index fell 10% since the start of 2025 amid rising trade tensions.

While Nasdaq futures are heading lower, Scott Melker says that Bitcoin is "breaking out."

Market watchers are highlighting a noteworthy shift as Bitcoin appears to be detaching from traditional markets. Highlighting possible economic volatility ahead, the Kobeissi Letter noted that "the narrative in both gold and Bitcoin is aligning for the first time in years."

To further the point, the world's largest cryptocurrency is now trading at a 78.6% Fibonacci level from the March 2020 low to December 2021 high.

At press time, Bitcoin is up over 110% year-to-date.

"Abnormal trading activity" in VOXEL-USDT perpetual futures contracts was noticed by cryptocurrency exchange Bitget on April 20, and the platform is closing impacted accounts, according to a Friday report by the crypto exchange.

The move comes after a user on X, formerly known as Twitter, reported a loss of around 15,000 ETH, or about $27 million at current prices, in a liquidation on Bitget.

"All customer funds are safe, and the $300 million protection fund has more than sufficient backing for any remaining losses," Bitget CEO Gracy Chen said in a statement.

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"We are closing the relevant accounts and will fully compensate any users who have incurred losses due to this incident. We are also conducting a thorough investigation to determine the root cause of the issue and will take the necessary steps to prevent such incidents from occurring in the future."

The report comes as the crypto exchange recently launched a $300 million user protection fund to provide compensation to users in the event of any major losses due to unforeseen market events or platform security breaches.

Earlier this month, Bitget also announced the launch of its GPT-powered AI trading assistant named "Bitget Infinity," which is designed to provide users with personalized trading recommendations and suggestions based on their individual preferences and risk tolerance.

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