In what is a rather surprising development for the digital asset industry, Bitcoin has returned to the $88k level, with many traders wondering why BTC is up today. Indeed, the asset has jumped as both the US stock market and dollar continue to tumble toward the end of April.
The asset looked to operate against the ongoing decline of the finance sector. Wall Street experienced a worsening of its ongoing sell-off, starting Monday, dropping 900 points. Moreover, the greenback has fallen to a three-year low amid increased geopolitical uncertainty. However, Bitcoin appears to be exempt from that decline.
JUST IN: $88,000 Bitcoin
— Watcher.Guru (@WatcherGuru) April 21, 2025
Also Read: Author Robert Kiyosaki Sets Bitcoin Price at $200K by the End of 2025
Bitcoin Jumps as US Dollar and Stock Market Continue Slide: Why Is BTC Up Today?
It has been a rather interesting few weeks for Bitcoin, and that continued Monday. The asset has struggled mightily in its price movement this year, not reaching the six-figure mark it hit in late 2024. However, it has started to return to form, hitting its highest price since US President Trump’s Liberation Day tariff plan announcement plummeted markets.
Indeed, Bitcoin has returned to the $88k mark, with traders looking into why BTC is up so much today. Specifically, the leading cryptocurrency has jumped more than 4% to start the week, according to CoinMarketCap. Moreover, that continues a 5% jump that has taken place over the last 30 days.
Also Read: Bitcoin to Target $90,000 in Q2? Here’s Why BTC Could Surge
Bitcoin is not the only asset to soar, as gold prices have continued to increase. Currently, the metal is trading at $3,412 and is up more than 2.95%. The movements have reignited the belief that both could be set to become haven assets.
That is especially true as their price increase took place amid US President Trump’s call for immediate and “preemptive” interest rate cuts. The president is reportedly looking into whether or not he has the ability to fire Federal Reserve Chair Jerome Powell.
Specifically, he wants to lower interest rates as soon as possible. Yet, that could be detrimental to marketers. The CEO of investment research firm Macro Hive said the move could have dire implications.
“It would be a huge, huge shock,” he told The Telegraph. “Overall, it would almost be like an apocalyptic scenario for the market.” The move, however, has propelled Bitcoin and gold, which is an interesting development regarding how investors view these assets and the timing of the price increases.
