Bitcoin News Today: Bitcoin Breaks Out Above $87K, Reverses Early April Slump

BTC Surges 16% From Monthly Low, Breaks Through Key ResistanceBitcoin is showing signs of a breakout, reclaiming the $87,000 level for the first time in nearly a month and pushing past a multi-week consolidation range. The move signals renewed bullish momentum just weeks after the leading crypto asset dropped below $75,000.On April 21, BTC climbed to $87,404, its highest price since March 28, according to TradingView data. The price has gained over $3,000 in the past 24 hours, recovering from an intraday low of $84,000 on April 20.Since its 2025 bottom of $74,800 recorded on April 9, Bitcoin has gained more than 16%, narrowing the distance to its all-time high to just 20%.Consolidation Ending as BTC Reaches Top of Trading ChannelBitcoin’s latest move has brought it to the upper boundary of a range that’s held since early March. While a 2.4% daily gain isn’t uncommon for BTC, analysts believe this could be the beginning of a larger upward trend.“Bitcoin is breaking out,” noted trader Scott Melker, also known as The Wolf of All Streets, adding that the rally is happening even as Nasdaq futures trend lower.BTC-Gold Correlation Grows as Dollar WeakensThis upward momentum also coincides with a rising correlation between Bitcoin and gold — both seen as hedges against inflation and currency devaluation.“Gold has hit its 55th all-time high in the past 12 months, and Bitcoin is officially joining the run,” said The Kobeissi Letter on X.“Both assets are signaling concerns over a weakening US dollar and rising uncertainty.”The U.S. Dollar Index (DXY) has dropped 10% year-to-date, reflecting growing concerns over geopolitical tensions, rising deficits, and global trade instability.Analysts Flip Bullish After Retest ConfirmationWhile some analysts had expected Bitcoin to test $83,000 over the Easter weekend, the asset defied expectations. On April 19, analyst Rekt Capital highlighted a successful retest of the downtrend line, calling it a significant confirmation of support.“Bitcoin hasn’t just broken the downtrend — it retested and held above it for the first time since the pattern began forming,” Rekt Capital explained.With resistance levels breaking and market sentiment improving, many now believe Bitcoin could challenge $90,000 in the coming days if macro conditions remain supportive.