Bitcoin has climbed back above $90,000 for the first time since March, signaling renewed confidence in the leading cryptocurrency amid growing uncertainty in traditional markets. The price briefly touched $91,021.53, representing a 6% gain in the past two days and a 20% recovery from its April low.
Investor Flight from Equities Fuels Crypto Surge
The surge in Bitcoin's price comes as U.S. stock markets reel from escalating political tensions and concerns over tariffs. With equities under pressure, many investors are viewing Bitcoin as a hedge—an alternative store of value during times of market stress. This growing narrative of Bitcoin as a “safe haven” is gaining traction, especially as its correlation with traditional risk assets appears to be weakening.
ETFs Show Strong Inflows
Adding to the momentum, U.S.-based Bitcoin exchange-traded funds (ETFs) recorded $381.4 million in inflows on Monday—marking their highest daily intake since late January. The influx of capital suggests that institutional and retail investors alike are seeking refuge in digital assets amid economic and geopolitical uncertainty.
Technical Indicators and Resistance Levels
Despite the bullish sentiment, analysts caution that trading volumes remain light, suggesting the rally may need a stronger catalyst to sustain its pace. According to market experts, a decisive break above $93,000 would require a significant event—such as Federal Reserve interest rate cuts or a breakthrough in tariff negotiations.
Technical analysts are also eyeing key resistance and support levels. $88,000 has been identified as a crucial zone to maintain bullish momentum. If Bitcoin can continue upward, the next target sits at approximately $95,900.
Looking Ahead
As Bitcoin continues its upward trend, market participants are closely monitoring macroeconomic developments. With global financial markets facing headwinds, Bitcoin’s performance in the coming weeks could serve as a bellwether for investor sentiment and the evolving role of cryptocurrencies in modern finance.