Bitcoin has once again crossed the symbolic $90,000 mark, reaching a peak of $93,730 as of Thursday. This surge, more than 25% above its March low of $75,000, signals a strong revival for the world’s largest cryptocurrency.
While the price action is bullish, technical analysts are urging caution. A daily close above $91,000 is seen as critical for confirming a sustained breakout beyond the current resistance. The $91,000–$93,000 range aligns with Bitcoin’s annual open and remains a heavily watched technical zone.
Spot ETFs and Institutional Inflows Fuel Rally
This price surge is underpinned by record inflows into U.S. Bitcoin ETFs and increasing activity in spot markets. On April 21 alone, U.S. Bitcoin ETFs drew in $381 million — the highest daily total since January 2025. The ARK 21Shares ETF stood out with $116 million invested in a single day.
Institutional optimism remains strong. Michael Saylor, CEO of Strategy, recently added 6,556 bitcoins to his portfolio, investing over $550 million. This continued accumulation reflects long-term confidence in Bitcoin’s value proposition.
Macroeconomic Tailwinds Add Support
Beyond technicals and ETFs, the broader macroeconomic climate is also favoring Bitcoin. China’s M2 money supply has reached a record $44.7 trillion, pushing investors toward inflation-resistant assets like Bitcoin and gold. Meanwhile, the U.S. dollar index has hit a three-year high.
The CoinDCX Research Team added, “Bitcoin jumped while altcoins and attracted massive gains in the past 24 hours following the inauguration of the new SEC chairman Paul Atkins, who assured to provide a regulatory foundation for digital assets.”
Additionally, improved relations between President Trump and Fed Chair Jerome Powell, along with optimism about a potential U.S.–China trade deal, have boosted risk asset sentiment.
Altcoins Rally as Bitcoin Dominance Slips
Ethereum soared more than 15.3% to $1,816.52, with trade volume rising 80% to $26.27 billion and market capitalization hitting $220 billion. Dogecoin, Cardano, Chainlink, and Avalanche all gained 10–12%, while XRP and Solana saw 6–8% increases. Bitcoin’s dominance edged down by 0.39% to 63.28%.
Crypto Market Soars
The total market capitalization of cryptocurrencies has surged nearly 7% to $2.94 trillion, with 24-hour trading volume jumping 53.61% to $133.51 billion.
The current rally is a result of intersecting factors, technical breakouts, favorable monetary signals, and growing institutional adoption, making it one of the most convincing bull runs in recent history.
