This is a major development on the market for cryptocurrencies. Bitcoin BTC is exploding again for the second consecutive day. Despite the US Stock Market’s plummet to begin the week, everyone is looking at why BTC has risen so dramatically today.
This development is a major milestone for financial markets. This indicates, in particular, that Bitcoin and digital assets have decoupled themselves from Wall Street. It could have huge implications on the future of the digital asset class and Bitcoin as a haven in the face of a highly contentious US economic outlook.
JUST IN: Bitcoin reclaims $90,000 pic.twitter.com/WA2PhS1GkX
— Watcher.Guru (@WatcherGuru) April 22, 2025
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Bitcoin Retakes $90,000 Despite Stock Market Slump
US financial markets were in turmoil over the last few weeks. US stocks erased $1.5 trillion in market capitalization on Monday. That extended to all manner of indices, with the S&P 500 down 2.38% and the Nasdaq There are more than 1000 points.
But things are different in the crypto sector. Bitcoin, in particular, has seen a rise, with BTC returning $90k to its previous day’s gains. The focus is now on Bitcoin, the top crypto, to see why it’s up and how far it can go.
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Bitcoin’s price has increased by over 3.3% within the past 24-hour period, as per CoinMarketCap. Moreover, the asset has increased its seven-day gains by more than five percent, officially breaking through $90,000. In fact, the asset reaches its highest level since US president Trump crashed markets with his Liberation Day tax plan.
Its decoupling from high-risk assets in the past week is the main catalyst of its growth. “Bitcoin continues showing signs of resilience,”Compass point analyst Ed Engel said. “Bitcoin correlation with equities on historical approaches 1.0 during macro sell-offs; however, its 30-day correlation with the S&P is just 0.65.”
Despite this, caution is advised. Engel points out that the recent rise in price coincides with lower than normal trading volume. Therefore, he isn’t hopeful it can return to the $93,000 level without a notable catalyst in the form of tariff deals taking place.
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Source: watcher.guru
