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