April 24, 2025

Over the past week, Bitcoin (BTC/USD) saw a strong upward move, climbing from $84,106 on April 17 to close at $93,605 on April 23—a gain of 11.3%. The most significant jump came on April 22, when prices surged nearly 6.83% in a single day, breaking above the $93,000 level. Momentum carried through to the following day, with Bitcoin hitting a weekly high of $94,690. This rally reflects a notable shift in investor sentiment and increased buying activity.

Several key factors have driven this rally, including changes in the regulatory landscape, bullish technical signals, and renewed interest from institutional investors.

On the regulatory front, a major tailwind came on April 22, when the U.S. Treasury Secretary signaled the possibility of easing regulations around stablecoins. The crypto market interpreted this as a pro-digital asset move, prompting renewed risk appetite among investors. At the same time, trading volumes in stablecoins have picked up, pointing to a return in capital activity. With the Federal Reserve recently hitting pause on rate hikes and global geopolitical tensions showing signs of easing, demand for the U.S. dollar as a safe haven has weakened—pushing more funds into riskier assets like Bitcoin.

Technicals also supported the rally. After holding its ground above the key $87,737 level on April 21, Bitcoin continued its push along an upward trend channel. The break above the psychological $90,000 mark drew in additional momentum buyers. Sentiment indicators showed a clear shift as well: the Fear & Greed Index climbed from 18 on April 17 to 30 by April 23, suggesting investors are moving away from extreme fear and into a more neutral stance.

Institutional flows added further fuel to the move. U.S.-listed spot Bitcoin ETFs recorded a net inflow of $784 million during the third week of April—the highest in nearly three months. At the same time, companies like MicroStrategy continued to grow their Bitcoin holdings, now exceeding 506,000 BTC valued at over $33.7 billion. These moves are reinforcing Bitcoin’s role as a hedge and a form of “digital gold,” drawing in long-term capital.

Looking ahead, if Bitcoin can hold above $90,000, the market may challenge resistance in the $95,000 range, with the potential to test the $98,000 to $100,000 zone. That said, short-term risks remain for those chasing the rally. Investors should stay tuned to any developments from the Federal Reserve and shifts in global geopolitical dynamics, as both could significantly impact market sentiment.