Bitcoin Surges Above $90,000 Amid Market Uncertainty

NEW YORK, April 22, 2025 — Bitcoin soared past $90,000 for the first time since early March, sparking optimism that the prominent digital currency is moving away from its usual correlation with U.S. tech stocks. This rise follows a momentary decline after U.S. President Donald Trump announced sweeping tariffs affecting both allies and rivals.

Since hitting a low on April 7, Bitcoin has rebounded by nearly 23%. This shift indicates a change in trading patterns, as Bitcoin begins to resemble gold—a favored asset amid current market volatility.

The dollar’s downward trend played a significant role in Bitcoin’s recent performance. Despite earlier expectations of a rally during the first three months of Trump’s presidency, many investors found themselves disappointed as market conditions remained unstable.

“One of the possible ramifications of the U.S. decoupling is a revisit to the long-term Bitcoin bull case as a store of value,” said Augustine Fan, a partner at the crypto trading platform SignalPlus. He noted that previously, Bitcoin had been seen as a leveraged proxy for the Nasdaq, but signs of decoupling are becoming apparent.

As of 6:30 AM in New York on Tuesday, Bitcoin had increased by 1.7%, valuing approximately $88,400. The dollar index slightly recovered after hitting its lowest point since late 2023, while gold prices surged past $3,500 an ounce.

Richard Galvin, co-founder of Sydney-based crypto hedge fund DACM, remarked, “If Bitcoin continues to trade more like gold than a tech stock, the decoupling narrative will gather momentum.”

In another sign of increased confidence, U.S.-listed Bitcoin ETFs saw a significant influx, totaling $381 million on Monday—the largest since January 30. Analysts suggest that if Bitcoin maintains its trading position above $88,800, it could continue to rise toward the $92,000 to $94,000 range, according to Riya Sehgal, a research analyst at Delta Exchange.