On April 21, gold surged to a new all-time high above $3,400 per ounce, while Bitcoin broke above $87,000, reclaiming levels not seen since early March.
The dual move comes as the U.S. dollar drops to its lowest point since late 2023, reflecting growing concerns about political interference in monetary policy and rising geopolitical uncertainty.
President Donald Trump’s renewed criticism of the Federal Reserve and reports that he may consider replacing Fed Chair Jerome Powell have fueled volatility across financial markets.
Adding to investor anxiety are Trump’s revived tariff threats, which are raising fears of a renewed global trade conflict. These developments are prompting capital outflows from U.S. equities and bonds.
Meanwhile, on-chain data from CryptoQuant shows:
Bitcoin Price Forecast
Every new Bitcoin analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Bitcoin forecasts-
New investors (holding BTC for less than 1 month) are now back in profit with an average +3.7% gain, indicating renewed confidence.
-
Short-Term Holders (STH) remain in loss, with an average position at -5.1% and a realized price near $91,000 — a key resistance zone that continues to act as a psychological ceiling.
“Breaking above $91K would bring short-term holders back to profit, potentially reducing sell pressure,”
CryptoQuant analysts noted.
Falling Wedge Breakout Points to $103K BTC Price Target
Bitcoin has entered the breakout stage of what appears to be a falling wedge pattern that had been capping the cryptocurrency’s upside attempts since January.
A falling wedge pattern develops when the price trades lower inside a range defined by two descending, converging trendlines meeting. It resolves when the price breaks above the upper trendline and rises to a level equal to the maximum wedge’s height.
Applying the same rule on Bitcoin’s daily chart shows it breaking out of the wedge pattern, with the upside target around $103,000. In other words, the top cryptocurrency will likely rally by over 18.50% by May.
