Bitcoin breaks downtrend with spike toward $92.6K, but who’s behind the price momentum?
Bitcoin's recent rally over Easter weekend has marked a notable shift in market sentiment, with the price surging by 9% to over $91,000 on April 22, 2025. This strong performance stands in stark contrast to the stock market's subdued rebound and aligns with gold's upward trend, which reached a new all-time high. A significant factor contributing to this bullish momentum is the derivatives market, where Bitcoin open interest saw a 17% increase, indicating growing trader confidence. Institutional investment has begun to re-emerge, evidenced by a rise in the Coinbase Bitcoin Premium Index, suggesting that institutions are driving the demand. Key figures, such as Michael Saylor, have made substantial acquisitions, bolstering institutional interest. Additionally, Bitcoin exchange-traded funds experienced $381 million in inflows, reversing a trend of heavy outflows and signaling renewed confidence, particularly among traditional finance investors. The recent conflict between U.S. President Trump and Federal Reserve Chair Powell regarding monetary policy could further enhance Bitcoin's prominent role as a hedge against traditional currency instability.
Source 🔗