Bitcoin Surge: Can It Break $95K or Is It Just a Big Tease?

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Well, it looks like Bitcoin (BTC) has decided to go on a little joyride, blasting to a 45-day high above $91,000 on April 22. And guess what? It managed to pull gold along for the ride, which also hit a shiny new all-time high. Coincidence? Or maybe investors are starting to panic about an impending economic recession and just want to hold something shiny and possibly magical? 🍀

But here’s the question that’s on everyone’s mind: Can Bitcoin keep climbing to $95,000, or will it just take a nap right before hitting that sweet spot?

Bitcoin price surge

Now, in a world where markets aren’t flipping tables, Bitcoin futures typically carry a 5% to 10% premium to cover the agonizingly long wait for settlement. Right now, it’s sitting at a modest 6%. So, while Bitcoin recently jumped $6,840 between April 20 and 22, the futures market isn’t exactly throwing confetti over it. Some analysts even think Bitcoin might be starting to walk away from its old, cozy relationship with the stock market.

Traders’ PTSD Might Kick In Around the $90K Zone

Let’s talk about the elephant in the room—Bitcoin’s little habit of falling face-first after flirting with the $90K mark. Back in March, it got all excited and tried to touch $95,000, only to plummet to $81,464 the very next day. So yeah, traders aren’t exactly reaching for their “Buy Bitcoin” hats right now. Why? Because Bitcoin’s last high of $109,346 on January 20 feels like a distant memory, and gold has been marching higher in the meantime like a show-off. 🏆

Bitcoin and gold comparison

Currently, Bitcoin is chilling about 16% below its all-time high, and fun fact, the S&P 500 is down by a similar 14.5%. Does this mean the era of throwing money around like it’s Monopoly cash is over? Maybe. But even when Bitcoin dipped below $75,000, it was still in better shape than tech stocks like Nvidia, Amazon, Facebook, and Tesla—talk about a low bar. 📉

But wait—here comes Treasury Secretary Scott Bessent! On April 22, he casually declared the US-China tariff war “unsustainable.” Sounds like a breath of fresh air, right? On the other hand, President Trump decided to throw in his two cents by blaming Jerome Powell, the head of the Federal Reserve, for not slashing interest rates. Because nothing says “fixing the economy” like blaming someone else for everything. 🤷‍♂️

Bitcoin’s Rollercoaster Ride vs. Investor Love for Government Bonds

Speaking of fixing things, let’s talk about those ever-popular US Treasurys. Investors are flocking to the safety of short-term bonds, accepting lower yields, and essentially parking their money in a place that won’t give them nightmares. Meanwhile, Bitcoin’s recent 6.3% surge over the past month is looking like the life of the party in comparison. 🕺

But hold on—before you get too excited, we need to check in with the options market. If traders were feeling any major enthusiasm about Bitcoin’s recent spike, we’d expect to see more activity in the bullish direction. Sadly, the 25% skew is sitting at a tame -2%, which tells us that no one’s really expecting Bitcoin to smash through that $95,000 barrier. If anything, it’s more like “meh, let’s wait and see.” 😐

Bitcoin options market

Despite some less-than-stellar economic data, the stock market seems to be in a decent mood, with the “Magnificent 7” companies forecasted to grow by 14.8% in the first quarter. So, Bitcoin still has a shot at $95,000 or beyond—but most traders are standing by with popcorn, waiting for the next big twist in the US-China trade drama before they make any bold moves.

Disclaimer: This article is for entertainment purposes only. No one’s here to tell you what to do with your money. The thoughts and opinions expressed are purely my own, so please don’t come crying to me if you end up broke. This isn’t investment advice—just some light reading to make you think. 🧠

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2025-04-23 00:42