Bitcoin prices appear to be breaking out of an extended period of consolidation as the asset climbs to its highest level since late March.

Bitcoin (BTC) surged above $87,400 on April 21, its highest price since March 28, according to TradingView. It has climbed by more than $3,000 from an intraday low of just over $84,000 on April 20.

The asset has now gained 16% since its 2025 low of just below $75,000 on April 9, and the distance from its peak price has been reduced to 20%.

While a 2.4% daily gain is not out of the ordinary for Bitcoin, it has moved the asset to the upper bounds of a range-bound channel that began in early March.

“Bitcoin is breaking out,” while Nasdaq futures are down 1%, observed Scott Melker, aka “The Wolf Of All Streets.”

_BTC/USD 4-hour chart. Source:__Tradingview_

“The narrative in both gold and Bitcoin is aligning for the first time in years,” commented the Kobeissi Letter on X, observing gold’s recent all-time high and Bitcoin’s breakout.

“Gold has hit its 55th all-time high in 12 months and Bitcoin is officially joining the run,” it stated before adding:

> “Gold and Bitcoin are telling us that a weaker US Dollar is more uncertainty > is on the way.”

The US dollar Index (DXY), which is a measure of the greenback against a basket of six major currencies, has declined 10% since the beginning of this year as global trade tensions escalate.

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The move was also observed by “Geiger Capital,” which also observed the decline in tech futures and the USD, adding that Bitcoin was “decoupling.”

> \- Tech futures down > \- Dollar down > \- Gold new ATH > \- Bitcoin breaking out/decoupling > > Realize where we are. pic.twitter.com/XqZRlEHj39 > > — Geiger Capital (@Geiger_Capital) April 21, 2025

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