#bitcoin Latest News and Market Update - Monday, April 21, 2025 (Bangladesh time)

Current Price Surge: $BTC has experienced a significant surge today, breaking past the $87,000 mark. It reached its highest level since late March, trading around $87,200 - $87,600 USD. This represents a substantial increase of over 2% - 3.6% in the last 24 hours.  

Driving Factors:

Weakening US Dollar: The US Dollar Index (DXY) has fallen to a three-year low. This decline is partly attributed to reports and concerns surrounding potential changes in the Federal Reserve leadership, leading investors to seek alternative assets like Bitcoin and gold as inflation hedges.  

Institutional Interest: Strong institutional inflows into spot #Bitcoin❗ ETFs continue to provide support. Notably, Ark Invest and BlackRock reportedly saw over $230 million in inflows last week. Japanese investment firm Metaplanet also announced another Bitcoin purchase, increasing their holdings.  

Technical Breakout: Bitcoin has broken through a key resistance zone between $85,000 and $86,300, signaling further bullish momentum. Analysts note that Bitcoin is now trading at the top of its two-month range.

Correlation with #GOLD : Bitcoin's rally is aligning with a surge in gold prices, which has hit multiple all-time highs recently. This suggests a shared narrative of investors moving towards alternative assets amid a weakening dollar and global uncertainties.  

Market Sentiment: Market sentiment has turned decidedly bullish following this breakout. Analysts are noting that Bitcoin has successfully turned a previous downtrend line into support, indicating a potential for further upward movement.

Key Developments:

Strategy Purchase Hint: Michael Saylor, executive chair of Strategy, hinted at another potential Bitcoin purchase in a recent social media post.

Analyst Bullish Outlook: Some analysts believe this breakout could be the start of a larger upward trend, with potential targets around the $90,000 level if current macro conditions persist.