Bitcoin Surges to $90K, Marking Its First Climb Since March Amid Strong Market Momentum

Bitcoin has surged to $90,000 for the first time since March 7, 2025, marking a significant milestone in its ongoing recovery from a multi-month low of under $75,000 earlier this year. This resurgence is attributed to a confluence of technical indicators, macroeconomic factors, and institutional interest.

Technical Indicators and Market Momentum

Bitcoin's recent price movement has been characterized by a breakout from a multi-month falling wedge pattern, a technical formation often signaling the onset of a bullish reversal. This breakout occurred after weeks of consolidation between $83,000 and $86,000, with the cryptocurrency now targeting the $90,000–$92,000 range, which previously served as a strong support zone.

Additionally, negative perpetual funding rates indicate that short sellers are paying to hold their positions, suggesting that the prevailing market sentiment is bullish and adding fuel to the rally.

Institutional Interest and ETF Inflows

A significant driver of Bitcoin's price increase is the substantial inflow into U.S. spot Bitcoin exchange-traded funds (ETFs), which saw over $380 million in inflows on Monday, the most since January 30. This influx of capital reflects growing institutional interest and confidence in Bitcoin as a legitimate asset class.

Macroeconomic Factors and Investor Sentiment

The weakening U.S. dollar has also played a pivotal role in Bitcoin's ascent. On April 21, the U.S. Dollar Index (DXY) experienced its largest single-day loss in April, prompting investors to seek alternative assets like Bitcoin as a hedge against potential inflation and fiscal instability.

Resistance Levels and Market Dynamics

Despite the bullish momentum, Bitcoin faces significant resistance between the $90,000 and $92,000 levels. Substantial sell orders are accumulating in this range, which could impede further price advancement if buying pressure does not intensify.

While the cryptocurrency is experiencing bullish momentum, traders should remain vigilant of the resistance levels ahead and monitor market dynamics closely.

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