Analysts suggest bitcoin's recent price action could signal a break in the downtrend, with potential for further gains.

By Shaurya Malwa|Edited by Parikshit Mishra

Apr 22, 2025, 11:43 a.m.

What to know:

  • Bitcoin remains above $88,000 as it continues to be viewed as a risk-off asset amid global economic uncertainties.

  • Gold prices hit a new high of $3,494 per ounce, reflecting increased demand for safe-haven assets.

  • Analysts suggest bitcoin's recent price action could signal a break in the downtrend, with potential for further gains.

Bitcoin (BTC) held steady above $88,000 early Tuesday as the Japanese yen crossed the psychological level of 140 against the U.S. dollar, as tariff concerns and risks of a Federal Reserve chairman shuffle in the states broadened the appeal of safe-haven assets.

Yen rose nearly 1% to 139.93 against the dollar, its strongest level since September. Gold surged to fresh highs at $3,494 per ounce in Asian morning hours.

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