Bitcoin (BTC) passed a $ 88,400 mark on April 21, 2025, registering a 2.56% increase in the last 24 hours. This rally has come amid significant collapse in the global stock market, featuring the emerging role of Bitcoin as a potential fence against macroeconomic inability.
The broader cryptocurrency market reflects Bitcoin’s positive momentum
The broader cryptocurrency market reflects Bitcoin’s positive momentum, along with the global market capitalization of 1.73% to $ 2.74 trillion. Interestingly, the stacks (STX) led those acquired by the top 50 cryptocurrencies, climbing about 10% to $ 0.7082, driven by growing interest in Bitcoin Layer-2 Bitcoin Layer-2 solutions. Other significant gainers include Decentrand (Mana), up to 5.17% to $ 0.3038, and Kasha (KAS), which increased by 8.07% to $ 0.0841.
Conversely, some cryptocurrencies face rejection. Dexe (Dexe) dropped by 4.98% to $ 14.32, while Theta Network (Theta) and EOS (EO) fell 3.71% and 3.39%, respectively. Onyxcoin (XCN) also experienced a decrease of 4.31%, trading at $ 0.0169.
The performance and interest of the institutional bitcoin
Bitcoin’s climbing at $ 88,000 marks a significant rebound, especially considering the broader volatility in the market. This advance is attributed to a combination of factors, including a weakening of the US dollar and increased institutional investment.
The interest of the institution in Bitcoin as a strategic possession is rising. On April 21, 2025, Michael Saylor’s approach gets 6,556 Bitcoin for $ 555.8 million, carrying their total handling of 538,200 BTC. Japanese investment firm Metaplanet also obtained an additional 330 BTCbringing its total handling to 4,855 BTC.
Expert Review: John Glover’s Perspective
John Glover, chief investment officer at LEDN and former managing director in Barclays, provided views on bitcoin’s trajectory using the theory of Elliott Wave.
He suggests that Bitcoin has completed a wave 4 correction, with support levels between $ 73,000 and $ 77,000. Glover expects a potential wave 5 rally, which has priced bitcoin prices to reach between $ 133,000 and $ 136,000. However, he is cautious that a close below $ 73,000 can release -this bullish, which potentially leads to a denial towards $ 62,500.
Traditional markets react to political uncertainty
In contrast to the stability of the crypto market, US stock markets experienced significant declines on April 21. The S&P 500 dropped by 2.4% to 5,158.20, the average industry of DOW Jones dropped by 2.5% to 38,170.41, and the NASDAQ composite was reduced by 2.6% to 15,870.90.
These falls are attributed to the increasing tensions surrounding President Donald Trump’s trading policies and his criticism of Federal Reserve Chairman Jerome Powell. Trump’s calls for the immediate reduction in interest rates and Powell’s removal suggestions have raised concerns about Fed’s freedom, which is more unhappy investors.
Bitcoin’s recent performance amid traditional market volatility features its potential as a fence against economic uncertainty. As the institution’s interests grow and the macroeconomic factors continue to influence the investor’s behavior, the role of Bitcoin in the global financial scene may be more prominent.
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