Bitcoin recovers to $ 87,000

Bitcoin BTC $94,145.91 Bitcoin -0.68% Market capitalization $1.87 trillion VOL. 24 hours $1.77 billion has surpassed $ 87,000, but analysts warn that it is too early to talk about a new long period of growth. Despite the increase in value, experts point out that there are not enough signals to make a confident forecast for further upward movement.

As of the time of writing, on the morning of April 21, the price of the market’s flagship has risen above $ 87,500. This jump has prompted discussions about a possible resumption of the bullish trend. At the same time, crypto analysts point out that the current price increase is more of a short-term reaction to external economic factors than the beginning of a new market cycle.

In particular, analysts point to the $ 86,190 level as a key resistance that must be overcome for the market to gain momentum for further growth. In case of a successful breakout, the next significant target is $ 88,800. If bitcoin fails to stay above these levels, a decline to $ 83,170 or even $ 78,170 is likely.

At the same time, the market remains vulnerable to fluctuations due to macroeconomic factors. These include expectations about monetary policy in the United States, the state of negotiations between major economies, and geopolitical instability.

Although the current rise in the price of digital currency is a positive signal, experts advise against jumping to conclusions. To consider the market situation as the beginning of a new upswing, we need confirmation in the form of a stable exchange rate supported by fundamental factors.