Bitcoin Hits $87,000: A Wild Ride, And No, It’s Not Magic

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Hold onto your hats, folks, because Bitcoin has just shot up to a jaw-dropping $87,400 on April 21, marking its highest point since March 29. In less than 24 hours, this digital rollercoaster surged by over $3,000, erasing some of the losses that had made April feel like a bad episode of “Cryptos Gone Wild.” Sure, a 4% single-day jump isn’t exactly unheard of for Bitcoin (the crypto world’s equivalent of a diva with mood swings), but the drama surrounding this recent spike has the market paying extra attention, like a cat eyeing a laser pointer.

Why Is Bitcoin Up Today? (Spoiler: It’s Not Just Luck)

The main culprit behind this sudden surge? The US dollar‘s unexpected nosedive, triggered by National Economic Council Director Kevin Hassett’s Friday bombshell—Trump wants Jerome Powell out as Federal Reserve Chair. With that bomb dropped, the dollar index (DXY) took a dive to 98.182, while investors scrambled into safer havens like gold. Spot gold hit a new record high of $3,385 per ounce, continuing its impressive 28% gain in 2025. Meanwhile, stocks (the S&P 500 and Nasdaq) were like, ‘Meh, not today,’ dipping by around 0.5%.

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Meanwhile, the @ChartingGuy account has pegged $94,000 as the “minimum target on this rally.” Yes, you read that right—$94,000. But don’t get too comfortable just yet; how Bitcoin behaves at that level will determine if this is just a temporary fluke or the start of a real, sustained upward trend. Think of it as Bitcoin’s version of a mid-life crisis—will it finally settle down or just keep buying sports cars?

Crypto analyst IncomeSharks, who seems to have a finger on the market’s pulse, warned, “Nice to see the downtrend breakout, but let’s be real here. Sunday’s pump wasn’t exactly a celebration. We need to see stocks open red tomorrow and keep this Bitcoin rally going. Then we’ll talk.”

As of press time, Bitcoin was hanging out at $87,509. So, what’s next? Well, if you’re anything like us, you’ll just watch and hope for the best. The crypto world is like that one cousin who shows up uninvited and leaves everyone wondering what just happened.

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2025-04-21 11:11