You Won’t Believe Where Bitcoin’s Going Next! (Hint: It’s BIG)

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Well, well, well… Look who’s back in action! Bitcoin (BTC) just couldn’t resist getting back on its feet early Monday, doing the cha-cha past $87,000 and eyeing the elusive $90,000. It’s like it’s saying, “You thought I was done? Oh honey, I’m just getting started!” 💰💃

Bitcoin broke free from a snooze-fest consolidation between $83,000 and $86,000. And now? It’s strutting past $87,000 like a catwalk model in New York Fashion Week. The bulls? They’re back with a vengeance! Talk about a dramatic comeback. 👏🎭

Look at this – Bitcoin’s practically tiptoeing toward $90K 📈. And you know what that means, right? A whole lotta “money in the air” vibes! 🚀

— IntoTheBlock (@intotheblock) April 21, 2025

So, here’s the thing: According to our friends over at IntoTheBlock (who clearly have the inside scoop), Bitcoin’s price action is making a case for the BIG $90,000. Back in the day, this $90,000-$92,000 range was like Bitcoin’s VIP lounge – comfy and supportive. But then, things got messy in February and, uh, we all know how that ended… hello, below $75,000. Not the best of times. 😬

But now? The cost-basis indicator clusters are looking pretty tasty, revealing a serious lack of overhead supply below that sweet $90,000 range. This means that Bitcoin could break through the ceiling faster than your grandma breaking her New Year’s resolution. 💥

Bitcoin’s Back, Baby!

As of now, BTC is up 3.2% in the last 24 hours, cruising at $87,528. It’s like the price is saying, “Oh, did you miss me?” We’re looking at the highest level since April 2, and Bitcoin has managed to keep the recovery going strong for three days straight. It’s like a marathon runner that refuses to quit – talk about endurance! 🏃‍♂️🔥

What’s driving the surge? Oh, no big deal, just a teeny dip in the U.S. dollar index (DXY), now chilling at a three-year low, plus a gold rally. Because why not add a little gold to the Bitcoin party, right? 🍾🥂

Now, as the $90,000 target looms, Bitcoin has a little bit of a hurdle to jump: it needs to break that pesky 200-day simple moving average (SMA) at $88,245. Easy peasy, right? (Well, let’s hope so…) 😅

But, don’t get too excited just yet. If the price takes a nosedive back to $85,000, all bets are off. Bitcoin could stay stuck in its old range, and we’ll all be left wondering what happened to the fireworks show. Keep an eye on the daily SMA 50 at $84,066 – that’s the moment of truth. ⏳💥

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2025-04-21 15:28