Bitcoin reclaimed the $90,000 level for the first time since March. Investors turned to the cryptocurrency amid ongoing stock market turbulence and a weakening dollar. The price of bitcoin rose about 4.8% to $91,563.27, according to Coin Metrics.
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Volatility: The degree of variation in a cryptocurrency's price over time.
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— Binance (@binance) April 26, 2025
This marks an 8% gain over two days. Earlier, it reached $91,754.28, the highest level since March 6. Bitcoin has recovered about 23% from its April low.
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The significant rise this week coincided with political developments. President Trump increased pressure on Federal Reserve Chair Jerome Powell. The Trump administration is exploring the legality of dismissing Powell before his term ends in May 2026.
So far this year, $MSTR treasury operations have generated a BTC $ Gain of $5.1 billion. pic.twitter.com/W5qz9zZHpI
— Michael Saylor (@saylor) April 26, 2025
On Tuesday, U.S. ETFs that track the price of spot bitcoin saw inflows of $381.4 million.
Bitcoin shows resilience amid turbulence
This represents their best day since January 30 and their fourth inflow day in the past five trading sessions.
Previously, the cryptocurrency had shown vulnerability to stock market volatility induced by tariffs. However, it has recently decoupled from risk assets. As of Tuesday, bitcoin’s price increased by more than 10% in April.
This contrasts with a 5% decrease in equities during the same period. “Bitcoin continues showing signs of resilience,” said Ed Engel, an analyst at Compass Point. “Bitcoin’s correlation with equities historically approaches 1.0 during macro sell-offs; however, its 30-day correlation with the S&P is just 0.65.”
Engel notes that while the recent decoupling is encouraging, the strength comes amid light trading volumes.
“This lowers our conviction that bitcoin can break above the $93,000 resistance level without a significant catalyst like Fed easing or tariff deals. However, long-term holders remain committed, and buying from strategic players is picking up as bitcoin’s liquidity declines, supporting further resilience amid equity and fixed income volatility.”
Katie Stockton of Fairlead Strategies pointed out that the $88,000 level is a key resistance for bitcoin. Clearing this resistance could be a positive short-term development.
It could potentially push the next resistance to near $95,900.
