Bitcoin Price Surges Today: Could This Be the Beginning of a Major Bull Run?

Bitcoin price surged today, recovering sharply from recent losses driven by external market stress. The cryptocurrency rose over 6% in 24 hours, climbing from $87,000 to nearly $94,000. This jump is attributed to ETF inflows, a weakening dollar, and a major shift at the U.S. Securities and Exchange Commission (SEC).

Bitcoin Price Surges With Strong Daily Gains

Bitcoin trades at $93,511, with a 6% rise in the past 24 hours. The market also recorded a surge in trading volume, which reached $57.82 billion. This shows a 50% increase from previous levels.

Data from CoinMarketCap confirms the recovery follows weeks of low inflows into crypto assets. Over the past seven days, Bitcoin gained 12.5%. On the monthly chart, BTC remains up by 7.5%, signaling a shift in momentum.

Source: CoinMarketCapAccording to on-chain analytics firm Glassnode, the asset broke several technical barriers. It now trades above both the 200-day and 50-day moving averages. This move has also confirmed a breakout from a lower-high pattern.

BTC Technical Indicators Turn Bullish

Several analysts pointed to strong bullish signals following the price breakout. Market commentator Ash Crypto noted that BTC closed above $93,000, passing key resistance levels. The token also crossed above the Ichimoku Cloud.

BOOOOOM !!!

BITCOIN CLOSED ABOVE $93,000 AND BROKE ALL THE MAJOR RESISTANCE LEVELS IN A SINGLE CANDLE.$BTC NOW

– ABOVE DAILY MA200 AND MA50
– BROKE LOWER-HIGH PATTERN
– HAS BROKEN ABOVE ICHIMOUKU CLOUD . pic.twitter.com/YBrjQIGEwR

— Ash Crypto (@Ashcryptoreal) April 23, 2025

Ash stated, “Bitcoin’s move is one of the strongest daily candles in months.” According to the analyst, the next key level is $106,000.

CryptoELITES, another market observer, predicted the price may eventually reach $180,000. “Bitcoin’s journey to $180,000 has officially begun,” they said in a recent post on X.

SEC Leadership Change and ETF Inflows Fuel Momentum

The market reacted positively to the appointment of Paul Atkins as the new SEC Chair. Atkins has long supported digital assets. His entry is seen as favorable for U.S. crypto markets and investor sentiment.

Additionally, data from Farside Investors shows that Bitcoin ETFs saw three consecutive days of inflows. On the latest day, net inflows totaled $936.43 million, up 146% from $381.40 million the day before. The increased interest comes from institutions that have resumed their participation in the market.

The analysts from CoinShares predict increased investment due to modifications in U.S. governmental policies. The experts observed how ETFs maintain their status as essential instruments for extended crypto investment periods.

Dollar Weakness Strengthens Bitcoin Rally

This major Bitcoin price increase stems from the recent decline in the U.S. dollar value. A significant decrease in the dollar index made space for bitcoin to expand. The declining U.S. dollar pushes up the value of risk-related assets, which Bitcoin belongs to.

Analyst CryptoAmsterdam emphasized that “Dollar crash is the trigger.” BTC now possesses the potential to achieve further high points.

Technical indicators alongside strong ETF inflows, united with suitable economic conditions, indicate potential expansion of the bull market. The market demonstrates increased buying intent through its present stability despite price fluctuations.