Bitcoin price nears $90,000 on surge attributed to investors moving from traditional assets

From Yahoo Finance: 2025-04-22 10:34:00

Bitcoin is trading higher, nearing $90,000, up 2.72%. The surge is attributed to investors moving from traditional assets to crypto amid concerns over U.S. Treasuries and the Fed’s independence. The largest cryptocurrency is up 5.88% in the last week and 6.61% in the past month.

Bitcoin’s rally is seen as a response to turmoil in traditional finance, with major U.S. indices falling sharply. The S&P 500 dropped 2.36%, the Nasdaq fell 2.55%, and the Dow plunged nearly 1,000 points. The U.S. dollar index also reached a three-year low of 98.00.

The current Bitcoin price action is seen as a hedge against U.S. Treasuries and uncertainty. Inflows into U.S. spot Bitcoin ETFs surged to $381.4 million, the largest daily figure since January 30. This comes after weeks of outflows from crypto investment vehicles.

Bitwise’s Cryptoasset Sentiment Index flipped to “slightly bullish,” with 8 of 15 indicators trending positive. Institutional voices suggest the rally is driven by macro hedging and renewed interest in Bitcoin as a “digital gold” alternative. Gold hit a nominal all-time high of $3,494 this week.

Bitcoin has broken out of a trading range and is aiming for the $90,000 level. The 200-day moving average is the next key level to watch. If Bitcoin decisively moves above this mark, it could pave the way for a retest of all-time highs.



Read more at Yahoo Finance: Bitcoin Nears $90K As ETF Inflows Surge And Treasuries Trigger Flight To Crypto