Bitcoin's spectacular rise exceeds $90,000
Bitcoin recently surged past $90,000, reaching $90,444. This shows a strong rally in its price. The increase was driven by a sharp drop in transaction fees, sparking hopes of a long-lasting bull run. Many wonder if Bitcoin can hit a new all-time high soon.
On April 22, 2025, Bitcoin hit $90,444. This was a 3.48% rise in one day. The price broke through the key level of $88,000. This break confirms a bullish trend and raises forecasts that Bitcoin could reach $166,250 by July. The sharp 90% fall in transaction fees on the Bitcoin network played a big role in this boost.
Even though Ethereum also saw fees drop by 90%, it didn't follow Bitcoin's rise. This is because each network has its own structure and issues.
Getting above $90,000 is a strong sign for Bitcoin. It shows confidence among investors. On April 22, the price jumped from $87,400 to $90,444. This move broke a big technical barrier at $88,000. It signals that the trend is likely to stay positive.
Analyst Christopher Lewis from FXEmpire says this milestone could push Bitcoin back to its previous trading range. He thinks it might reach $110,000 in the next few months. Short-term indicators like the bullish MACD suggest this upward move will continue. Some experts even believe Bitcoin could increase by 90% by July, reaching around $166,250.
A major reason for this jump is the drop in transaction costs. Fees on the Bitcoin network fell by 90%, the lowest in a year. This makes sending Bitcoin cheaper. Lower fees attract more investors and users.
Even though Ethereum also had its fees cut by 90%, it did not see a big price rise. Different factors affect each network. These include technology updates, use cases, and how investors see them.
Bitcoin’s move past $90,000 shows more confidence from traders. More than 13,000 big investors, including Michael Saylor, have put their trust in Bitcoin. The outlook remains positive for the short and medium term. Currently, Bitcoin is around $91,000. But caution is still needed because the crypto market stays very volatile.