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Bitcoin has successfully regained the $90,000 threshold for the first time since March, attracting renewed interest from investors amidst ongoing volatility in the stock market.
As of the latest reports, Bitcoin’s price surged over 3%, reaching $90,282.00, after a similar increase on Monday. This climb represents a significant recovery of approximately 20% from its low seen in April.
This week’s price surge coincides with a fresh wave of sell-offs in U.S. equities, largely influenced by former President Donald Trump’s escalating critique of Federal Reserve Chair Jerome Powell. Trump has been vocal about his demands for immediate rate reductions, while also questioning the legality of Powell’s potential dismissal before his term concludes in May 2026.
Investor activity surrounding U.S.-based ETFs that track Bitcoin’s spot price has been notable, with $381.4 million flowing in on Monday alone. This figure marks the largest single-day inflow since January 30 when inflows reached $588.2 million, and it represents the fourth day of inflows in just five trading days.
Historically, Bitcoin has shown susceptibility to market fluctuations driven by tariff-related tensions, yet recent trends indicate a decoupling from correlated risk assets. For instance, Bitcoin has recorded a more than 9% increase in April, paralleling gains in gold, while the S&P 500 index has dropped by 6% during the same time period.
Ed Engel, an analyst at Compass Point, noted Bitcoin’s robust performance in a recent analysis. “Bitcoin remains resilient,” Engel stated. “Typically, its correlation with equities spikes to near 1.0 during broader market sell-offs; however, the current 30-day correlation with the S&P has declined to 0.65.” He expressed caution, suggesting that current price movements are taking place on reduced trading volumes, which diminishes confidence in breaking through the $93,000 resistance level without major triggers like changes in Federal Reserve policies or trade agreements.
Technical analyst Katie Stockton from Fairlead Strategies highlighted that the $88,000 mark serves as a crucial resistance point for Bitcoin. Surpassing this level could signify a positive shift, with the next resistance pegged at around $95,900.
Source
www.cnbc.com