Bitcoin Surges Past $87K: Expert Predictions on Future Price Trends
Unpacking the Potential Deception of a Low-Volume BTC Breakout: Analysts Weigh In
Key Points
- Bitcoin [BTC] reclaimed $87k due to a weakening U.S Dollar, with experts attributing this to President Trump’s threat to fire Fed chair Jerome Powell.
- While BTC’s recovery is promising, it was driven by low volume and will need further confirmation.
Bitcoin [BTC] experienced a surge during the Easter rally, reaching $87k. This rise is believed to be due to the declining strength of the U.S Dollar. This viewpoint was highlighted by Mathew Sigel, VanEck’s Head of Digital Assets Research.
U.S Dollar Sell-off Fuels BTC
Alex Thorn, Galaxy’s Head of Research, and Bitwise’s Andre Dragosch shared similar sentiments. Dragosch noted that the US Dollar Index (DXY) reached its lowest level since 2022.
Bitcoin’s price movement demonstrated a negative correlation with DXY. This means that as the DXY weakened, driven by President Donald Trump’s threat to fire Fed chair Jerome Powell, Bitcoin’s value increased.
Greg Madini from Amberdata stated that Trump’s actions were a “threat to Fed independence” and that Powell’s potential replacement could trigger inflation. This, in turn, could push both gold and BTC higher.
Gold and BTC as Safe Assets
It should be noted that gold hit another all-time high (ATH) on Monday. This marked the first positive correlation between BTC and gold after several weeks of decoupling. This suggests that investors are turning to gold and BTC as ‘safe assets’ amidst tariff uncertainty.
While BTC’s rise is promising, it was driven by low spot volume and will require further confirmation. Analyst Matthew Hyland stated that Bitcoin’s sustained recovery will depend on surpassing $89k.
CryptoQuant, a blockchain analytics firm, supported the recovery prospect. They suggested that the current price action is a normal correction, not a full bear cycle, citing the On-chain Trader Realized Profit/Loss Margin metric to support their claim.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Circle IPO Is a Big Opportunity to Enter Crypto: Expert’s Advice
XRP is the Solution to Rising US Debt: Black Swan Capitalist
For context, the United States has $36.2 trillion in its national debt, and this amount is growing by about $1 trillion every three months.
Gaming Tokens Capture Market Attention: Top 4 Gaming Projects Lead Social Buzz with Shares

Analyst Debates Over $21 and $152 XRP ATH Target Possibilities This Bull Cycle, How Far Will Ripple Go?

Trending news
MoreCrypto prices
More








