Bitcoin (BTC)price reached its highest level in two months, trading above $93,000 ascryptocurrencies across the board posted significant gains. The rally comesamid signals that US-China trade tensions may be cooling and renewed confidencein Federal Reserve leadership.
The world'slargest cryptocurrency jumped nearly 6% in the past 24 hours, reaching $94,500in early trading on Wednesday, 23 April, 2025. Other major cryptocurrenciesfollowed suit, with Ethereum (ETH) surging 10% to break above $1,700, whileDogecoin (DOGE), XRP, and Solana (SOL) also posted substantial gains, rangingfrom 7% to 11%.
The totalcryptocurrency market capitalization increased by approximately 6.7% over thelast 24 hours to reach $2.95 trillion, according to CoinMarketCap data. Why thecrypto market is going up today amd why Bitcoin prices are surging? Let’s findout in the below’s article!
Bitcoin Price Is Going Up,Altcoins Follow
Thecryptocurrency market is stabilizing for another consecutive session,continuing the strong rally that started earlier this week. Tuesday wasespecially significant, with BTC surging 7% in a single session—the largestgain in two months—and breaking above critical resistance levels. Asnoted in my recent analysis, this paves the way for Bitcoin to retest itshistorical all-time high (ATH) around $108,000–$109,000.
As shown inthe chart below, Bitcoin isn’t the only one rising—several altcoins are alsoclimbing. Ethereum has gained 10% and is currently priced at $1,783, XRP is up7% at $2.25, and Solana has increased 8%, testing $151. Thememe-based Dogecoin has surged 11% and is now trading above 18 cents.
Why Is Crypto Up Today? TradeTensions and Fed Stability Fuel Crypto Rally
The cryptomarket's upward momentum gained strength afterUS President Donald Trump indicated he had no intention of firing FederalReserve Chair Jerome Powell, alleviating concerns about central bankautonomy that had weighed on markets.
"Thereis no doubt dollar weakness caused by the Trump administration attack on theFederal Reserve and in particular Chairman Powell, has contributed to the riseof BTC this week but this is just one such catalyst," said Stephen Wundke,Director of Strategy & Revenue at quantitative digital asset investmentfirm Algoz. "The appointment of SEC Head Paul Atkins and his cryptofriendly stance is another which encourages investors."
Furtherfueling the rally were comments from Treasury Secretary Scott Bessent, who toldattendees at a closed-door JPMorgan investor summit that the current tariffstandoff between the United States and China "cannot be sustained by bothsides" and that the world's two largest economies would need to find waysto de-escalate tensions.
"Bitcoin(BTC) saw a strong breakout in yesterday's session, surging by 6.77% andreclaiming the $92,000 level, fueled by a notable improvement in global marketsentiment. The main drivers behind this rally were the dovish comments fromU.S. President Donald Trump regarding trade tariffs, as well as his statementthat he has no intention of dismissing Federal Reserve Chair Jerome Powell,”added Linh Tran, Market Analyst at XS.com.
PresidentTrump later reinforced this sentiment when speaking to reporters at the WhiteHouse, stating that US tariffs on Chinese goods "will come downsubstantially" from their current 145% level, signaling a potential thawin economic relations between the world's two largest economies.
Othersalso liked: GoldSpot Price Hits New Record at $3.4K: How Much Is Gold Per Ounce Today on PriceChart?
Massive Short Liquidations
The rapidprice increase triggered a significant "short squeeze" in thederivatives market, with over $63 million in short positions—bets that priceswould fall—being liquidated in the past 24 hours.
Data fromtrading platforms shows that most short liquidations occurred on Bybit ($234million), followed by Binance ($100 million) and Gate ($70 million). Thelargest single liquidation was an Ethereum futures position worth over $4.5million on Binance.
Thisrepresents the biggest short liquidation event so far this year, comparing itto a similar event in November when $426 million in short leveraged positionswere wiped out during a 16% market surge.
ETF Inflows SignalInstitutional Interest
US-listedBitcoin exchange-traded funds (ETFs) recorded combined inflows of $12 millionon Tuesday, marking the third-highest daily inflow for these investmentvehicles this year. This surge in institutional investment provides furtherevidence of growing mainstream acceptance of cryptocurrencies as legitimatefinancial assets.
"Therecent post-holiday surge in volume and pricing among major cryptocurrencieshas been underpinned by supportive commentary from the Federal Reserve andgrowing expectations that quantitative easing may return,” Paul Howard, SeniorDirector at Wincent, explained.
“Additionally,a weakening U.S. dollar and the emergence of what is being described as asecond 'Saylor-style' investment strategy, reportedly aligned with the Trumpcampaign, have contributed to renewed investor interest in Bitcoin ETFs. Thishas resulted in approximately $1 billion in net inflows over the past 48 hours,providing upward momentum across the broader crypto market."
Bitcoin Technical Analysis:Brekaout Supports Bullish Outlook
From atechnical analysis perspective, the cryptocurrency market has confirmed abullish pattern by breaking out of a multi-month downtrend. The total marketcapitalization chart displays a clear breakout from a falling wedge pattern,with prices now targeting $3.12 trillion—a potential 7.5% increase from currentlevels.
What doesBitcoin’s chart look like? Based on my technical analysis, we have moved beyondthe consolidation seen in March and early April and are returning toconsolidation at the all-time high (ATH) levels from late 2024 and early 2025.The critical zone separating bullish and bearish sentiment is a broad rangebetween $89,000 and $91,500, which I’ve highlighted in red on the chart.
With theregression channel broken and a return to the consolidation range—where theupper boundary is the ATH—Bitcoin can again target $100,000 and higher. Whereis the first resistance level currently? I believe it will be the late Februaryhighs, namely the psychological six-figure resistance at $100,000.
Thisperspective aligns with 10x Research, which, in today’s newsletter, notes thatthe influx of dollars into Bitcoin is once again highlighting the $100,000level as a key target.
— 10x Research (@10x_Research) April 23, 2025Tide Turns: Bitcoin $$$ Inflows Reignite Rally - $100,000 Possible
👇1-10) As anticipated, Bitcoin has resumed its bullish trend.
The next key resistance zone lies in the $94,000–$95,000 range, which aligns with our target for this move.
However, whether this level can be… pic.twitter.com/f1wgilhHe6
Potential Correction Ahead?
Despite thecurrent optimism, some market analysts caution that the rally may beapproaching overextended territory and could face a correction in the nearterm.
Wundke fromAlgoz suggested that a correction could be on the horizon: "It's possiblethere is a $76,000-$95,000 trading range in place so the next milestone wouldbe to break the top end of that range to see if we are 'off to the races';there is certainly a lot of money on the sidelines currently looking for asafer place to 'stay'. BTC might just be that place."
Higher S&P 500 andNasdaq Helps Crypto
Thecryptocurrency rally is occurring against a backdrop of improving sentiment intraditional markets as well. According to Tran from XS.com, "Marketsentiment was further boosted by a strong performance in U.S. equities. Majorindices such as the S&P 500 and Nasdaq both gained more than 2%, withbroad-based advances across nearly all sectors. A strong start to the earningsseason — with notable outperformance from companies like Tesla and 3M — helpedfuel market enthusiasm."
Howard fromWincent added a note of caution regarding Ethereum's prospects: "Despitethis positive backdrop, a sustained rally in Ethereum (ETH) appears unlikely inthe near term. The current market environment differs markedly from theconditions that supported the last major ETH rally four years ago. Theproliferation of alternative Layer 1 protocols and a broader array of ETFofferings present investors with more diversified options."
Geopolitical Factors
Therelationship between cryptocurrencies and broader geopolitical tensions remainsa critical factor for investors to monitor. Howard noted, "The correlationbetween equities and digital assets remains strong. However, a meaningfulde-escalation in U.S.–China macroeconomic tensions is unlikely until definitiveoutcomes emerge from the anticipated meeting between President Xi and formerPresident Trump."
He addedthat "Market consensus suggests that negotiations typically commence withaggressive positioning such as the imposition of high tariffs which hascontributed to recent downward pressure on markets. Nonetheless, moreconstructive developments are expected to follow these initial announcements,potentially leading to increased volatility and a shift in sentiment."
Bitcoin Price Prediction: HistoricalContext and Future Outlook
As thecryptocurrency market continues its upward trajectory, investors and tradersare closely monitoring developments in US-China trade relations and FederalReserve policy for further signals that could impact price action.
Accordingto the long-term price predictions, Bitcoin could achieve six-figure valuationsby the end of 2025 if institutional adoption maintains its current momentum,according to market consensus.
- Titan ofCrypto: Predicts$137,000, driven by TGA liquidity over $600B, bullish pennant, and EMAbreakout.
- Bernstein: Forecasts $200,000, fueled by$70B+ ETF inflows, Trump’s pro-crypto policies, and halving supply shock.
- StandardChartered: Projects$200,000–$250,000, based on U.S. retirement fund adoption, potential BTCreserve, and options trading growth.
- Bitfinex: Estimates $145,000–$200,000,supported by historical cycle trends, moderating returns, and liquiditycorrelation.
- H.C.Wainwright & Co.:Anticipates $225,000, driven by spot ETF traction, corporate adoption, andfavorable macro conditions.
- CathieWood (ARK Invest):Predicts $1,000,000 by 2030 (with 2025 momentum), due to institutional growth,Bitcoin as a store of value, and regulatory shifts.
- RobertKiyosaki: Expects$1,000,000 by 2035 (2025 as a key inflection point), driven by fiat currencydistrust, inflation hedging, and widespread adoption.
Tran fromXS.com summarized the current situation: "For Bitcoin in particular — anasset highly sensitive to shifts in investor sentiment — signs of easing tradetensions have helped rebuild investor confidence, especially after a prolongedperiod of correction due to weakening institutional inflows and risingmacroeconomic risks. Improved policy expectations have also created a moresupportive environment for BTC's sharp rebound during the latest session."
While theimmediate outlook appears positive, the combination of technical resistancelevels, potential overextension, and underlying on-chain weaknesses suggeststhat market participants should remain cautious about the sustainability of thecurrent rally.
Bitcoin Price News, FAQ
Why is crypto going upnow?
The cryptomarket is rallying due to easing US-China trade tensions, with President Trumpsignaling reduced tariffs, and renewed confidence in Federal Reserve stabilityfollowing assurances that Chair Jerome Powell will remain. A crypto-friendlySEC head, Paul Atkins, and a weakening US dollar further boost investorsentiment. Strong US equity market performance (S&P 500 and Nasdaq up over2%) and $12 million in Bitcoin ETF inflows also contribute.
Is a crypto bull runcoming?
Technicalanalysis confirms a bullish breakout from a multi-month downtrend, with thetotal market cap breaking a falling wedge pattern and targeting $3.12 trillion(7.5% above current levels). Bitcoin’s surge past $89,000–$91,500 resistance,coupled with massive short liquidations ($63 million) and institutional ETFinflows, suggests a potential bull run, though analysts warn of a possiblenear-term correction.
Will crypto rise again in2025?
Yes, marketconsensus predicts significant crypto growth in 2025, with Bitcoin potentiallyreaching six figures by year-end if institutional adoption persists.Predictions range from $137,000 (Titan of Crypto) to $1,000,000 by 2030 (CathieWood, Robert Kiyosaki), driven by ETF inflows, corporate adoption, favorablepolicies, and macroeconomic factors like a weakening dollar and potentialquantitative easing.
Why is Bitcoin priceincreasing?
Bitcoin’sprice is surging due to a breakout above $92,000, fueled by improved globalmarket sentiment, dovish trade tariff comments from Trump, and Federal Reservestability. A $63 million short squeeze, $12 million in ETF inflows, and acrypto-friendly SEC head enhance bullish momentum. Technical analysis supportsa target of $100,000, with the next resistance at late February highs.
Bitcoin (BTC)price reached its highest level in two months, trading above $93,000 ascryptocurrencies across the board posted significant gains. The rally comesamid signals that US-China trade tensions may be cooling and renewed confidencein Federal Reserve leadership.
The world'slargest cryptocurrency jumped nearly 6% in the past 24 hours, reaching $94,500in early trading on Wednesday, 23 April, 2025. Other major cryptocurrenciesfollowed suit, with Ethereum (ETH) surging 10% to break above $1,700, whileDogecoin (DOGE), XRP, and Solana (SOL) also posted substantial gains, rangingfrom 7% to 11%.
The totalcryptocurrency market capitalization increased by approximately 6.7% over thelast 24 hours to reach $2.95 trillion, according to CoinMarketCap data. Why thecrypto market is going up today amd why Bitcoin prices are surging? Let’s findout in the below’s article!
Bitcoin Price Is Going Up,Altcoins Follow
Thecryptocurrency market is stabilizing for another consecutive session,continuing the strong rally that started earlier this week. Tuesday wasespecially significant, with BTC surging 7% in a single session—the largestgain in two months—and breaking above critical resistance levels. Asnoted in my recent analysis, this paves the way for Bitcoin to retest itshistorical all-time high (ATH) around $108,000–$109,000.
As shown inthe chart below, Bitcoin isn’t the only one rising—several altcoins are alsoclimbing. Ethereum has gained 10% and is currently priced at $1,783, XRP is up7% at $2.25, and Solana has increased 8%, testing $151. Thememe-based Dogecoin has surged 11% and is now trading above 18 cents.
Why Is Crypto Up Today? TradeTensions and Fed Stability Fuel Crypto Rally
The cryptomarket's upward momentum gained strength afterUS President Donald Trump indicated he had no intention of firing FederalReserve Chair Jerome Powell, alleviating concerns about central bankautonomy that had weighed on markets.
"Thereis no doubt dollar weakness caused by the Trump administration attack on theFederal Reserve and in particular Chairman Powell, has contributed to the riseof BTC this week but this is just one such catalyst," said Stephen Wundke,Director of Strategy & Revenue at quantitative digital asset investmentfirm Algoz. "The appointment of SEC Head Paul Atkins and his cryptofriendly stance is another which encourages investors."
Furtherfueling the rally were comments from Treasury Secretary Scott Bessent, who toldattendees at a closed-door JPMorgan investor summit that the current tariffstandoff between the United States and China "cannot be sustained by bothsides" and that the world's two largest economies would need to find waysto de-escalate tensions.
"Bitcoin(BTC) saw a strong breakout in yesterday's session, surging by 6.77% andreclaiming the $92,000 level, fueled by a notable improvement in global marketsentiment. The main drivers behind this rally were the dovish comments fromU.S. President Donald Trump regarding trade tariffs, as well as his statementthat he has no intention of dismissing Federal Reserve Chair Jerome Powell,”added Linh Tran, Market Analyst at XS.com.
PresidentTrump later reinforced this sentiment when speaking to reporters at the WhiteHouse, stating that US tariffs on Chinese goods "will come downsubstantially" from their current 145% level, signaling a potential thawin economic relations between the world's two largest economies.
Othersalso liked: GoldSpot Price Hits New Record at $3.4K: How Much Is Gold Per Ounce Today on PriceChart?
Massive Short Liquidations
The rapidprice increase triggered a significant "short squeeze" in thederivatives market, with over $63 million in short positions—bets that priceswould fall—being liquidated in the past 24 hours.
Data fromtrading platforms shows that most short liquidations occurred on Bybit ($234million), followed by Binance ($100 million) and Gate ($70 million). Thelargest single liquidation was an Ethereum futures position worth over $4.5million on Binance.
Thisrepresents the biggest short liquidation event so far this year, comparing itto a similar event in November when $426 million in short leveraged positionswere wiped out during a 16% market surge.
ETF Inflows SignalInstitutional Interest
US-listedBitcoin exchange-traded funds (ETFs) recorded combined inflows of $12 millionon Tuesday, marking the third-highest daily inflow for these investmentvehicles this year. This surge in institutional investment provides furtherevidence of growing mainstream acceptance of cryptocurrencies as legitimatefinancial assets.
"Therecent post-holiday surge in volume and pricing among major cryptocurrencieshas been underpinned by supportive commentary from the Federal Reserve andgrowing expectations that quantitative easing may return,” Paul Howard, SeniorDirector at Wincent, explained.
“Additionally,a weakening U.S. dollar and the emergence of what is being described as asecond 'Saylor-style' investment strategy, reportedly aligned with the Trumpcampaign, have contributed to renewed investor interest in Bitcoin ETFs. Thishas resulted in approximately $1 billion in net inflows over the past 48 hours,providing upward momentum across the broader crypto market."
Bitcoin Technical Analysis:Brekaout Supports Bullish Outlook
From atechnical analysis perspective, the cryptocurrency market has confirmed abullish pattern by breaking out of a multi-month downtrend. The total marketcapitalization chart displays a clear breakout from a falling wedge pattern,with prices now targeting $3.12 trillion—a potential 7.5% increase from currentlevels.
What doesBitcoin’s chart look like? Based on my technical analysis, we have moved beyondthe consolidation seen in March and early April and are returning toconsolidation at the all-time high (ATH) levels from late 2024 and early 2025.The critical zone separating bullish and bearish sentiment is a broad rangebetween $89,000 and $91,500, which I’ve highlighted in red on the chart.
With theregression channel broken and a return to the consolidation range—where theupper boundary is the ATH—Bitcoin can again target $100,000 and higher. Whereis the first resistance level currently? I believe it will be the late Februaryhighs, namely the psychological six-figure resistance at $100,000.
Thisperspective aligns with 10x Research, which, in today’s newsletter, notes thatthe influx of dollars into Bitcoin is once again highlighting the $100,000level as a key target.
— 10x Research (@10x_Research) April 23, 2025Tide Turns: Bitcoin $$$ Inflows Reignite Rally - $100,000 Possible
👇1-10) As anticipated, Bitcoin has resumed its bullish trend.
The next key resistance zone lies in the $94,000–$95,000 range, which aligns with our target for this move.
However, whether this level can be… pic.twitter.com/f1wgilhHe6
Potential Correction Ahead?
Despite thecurrent optimism, some market analysts caution that the rally may beapproaching overextended territory and could face a correction in the nearterm.
Wundke fromAlgoz suggested that a correction could be on the horizon: "It's possiblethere is a $76,000-$95,000 trading range in place so the next milestone wouldbe to break the top end of that range to see if we are 'off to the races';there is certainly a lot of money on the sidelines currently looking for asafer place to 'stay'. BTC might just be that place."
Higher S&P 500 andNasdaq Helps Crypto
Thecryptocurrency rally is occurring against a backdrop of improving sentiment intraditional markets as well. According to Tran from XS.com, "Marketsentiment was further boosted by a strong performance in U.S. equities. Majorindices such as the S&P 500 and Nasdaq both gained more than 2%, withbroad-based advances across nearly all sectors. A strong start to the earningsseason — with notable outperformance from companies like Tesla and 3M — helpedfuel market enthusiasm."
Howard fromWincent added a note of caution regarding Ethereum's prospects: "Despitethis positive backdrop, a sustained rally in Ethereum (ETH) appears unlikely inthe near term. The current market environment differs markedly from theconditions that supported the last major ETH rally four years ago. Theproliferation of alternative Layer 1 protocols and a broader array of ETFofferings present investors with more diversified options."
Geopolitical Factors
Therelationship between cryptocurrencies and broader geopolitical tensions remainsa critical factor for investors to monitor. Howard noted, "The correlationbetween equities and digital assets remains strong. However, a meaningfulde-escalation in U.S.–China macroeconomic tensions is unlikely until definitiveoutcomes emerge from the anticipated meeting between President Xi and formerPresident Trump."
He addedthat "Market consensus suggests that negotiations typically commence withaggressive positioning such as the imposition of high tariffs which hascontributed to recent downward pressure on markets. Nonetheless, moreconstructive developments are expected to follow these initial announcements,potentially leading to increased volatility and a shift in sentiment."
Bitcoin Price Prediction: HistoricalContext and Future Outlook
As thecryptocurrency market continues its upward trajectory, investors and tradersare closely monitoring developments in US-China trade relations and FederalReserve policy for further signals that could impact price action.
Accordingto the long-term price predictions, Bitcoin could achieve six-figure valuationsby the end of 2025 if institutional adoption maintains its current momentum,according to market consensus.
- Titan ofCrypto: Predicts$137,000, driven by TGA liquidity over $600B, bullish pennant, and EMAbreakout.
- Bernstein: Forecasts $200,000, fueled by$70B+ ETF inflows, Trump’s pro-crypto policies, and halving supply shock.
- StandardChartered: Projects$200,000–$250,000, based on U.S. retirement fund adoption, potential BTCreserve, and options trading growth.
- Bitfinex: Estimates $145,000–$200,000,supported by historical cycle trends, moderating returns, and liquiditycorrelation.
- H.C.Wainwright & Co.:Anticipates $225,000, driven by spot ETF traction, corporate adoption, andfavorable macro conditions.
- CathieWood (ARK Invest):Predicts $1,000,000 by 2030 (with 2025 momentum), due to institutional growth,Bitcoin as a store of value, and regulatory shifts.
- RobertKiyosaki: Expects$1,000,000 by 2035 (2025 as a key inflection point), driven by fiat currencydistrust, inflation hedging, and widespread adoption.
Tran fromXS.com summarized the current situation: "For Bitcoin in particular — anasset highly sensitive to shifts in investor sentiment — signs of easing tradetensions have helped rebuild investor confidence, especially after a prolongedperiod of correction due to weakening institutional inflows and risingmacroeconomic risks. Improved policy expectations have also created a moresupportive environment for BTC's sharp rebound during the latest session."
While theimmediate outlook appears positive, the combination of technical resistancelevels, potential overextension, and underlying on-chain weaknesses suggeststhat market participants should remain cautious about the sustainability of thecurrent rally.
Bitcoin Price News, FAQ
Why is crypto going upnow?
The cryptomarket is rallying due to easing US-China trade tensions, with President Trumpsignaling reduced tariffs, and renewed confidence in Federal Reserve stabilityfollowing assurances that Chair Jerome Powell will remain. A crypto-friendlySEC head, Paul Atkins, and a weakening US dollar further boost investorsentiment. Strong US equity market performance (S&P 500 and Nasdaq up over2%) and $12 million in Bitcoin ETF inflows also contribute.
Is a crypto bull runcoming?
Technicalanalysis confirms a bullish breakout from a multi-month downtrend, with thetotal market cap breaking a falling wedge pattern and targeting $3.12 trillion(7.5% above current levels). Bitcoin’s surge past $89,000–$91,500 resistance,coupled with massive short liquidations ($63 million) and institutional ETFinflows, suggests a potential bull run, though analysts warn of a possiblenear-term correction.
Will crypto rise again in2025?
Yes, marketconsensus predicts significant crypto growth in 2025, with Bitcoin potentiallyreaching six figures by year-end if institutional adoption persists.Predictions range from $137,000 (Titan of Crypto) to $1,000,000 by 2030 (CathieWood, Robert Kiyosaki), driven by ETF inflows, corporate adoption, favorablepolicies, and macroeconomic factors like a weakening dollar and potentialquantitative easing.
Why is Bitcoin priceincreasing?
Bitcoin’sprice is surging due to a breakout above $92,000, fueled by improved globalmarket sentiment, dovish trade tariff comments from Trump, and Federal Reservestability. A $63 million short squeeze, $12 million in ETF inflows, and acrypto-friendly SEC head enhance bullish momentum. Technical analysis supportsa target of $100,000, with the next resistance at late February highs.
