Bitcoin recovers to $87,000, showing signs of ”breakout”

Bitcoin has recorded its highest price since the end of March and is showing signs of escaping from a long-term correction period. At 11:30 a.m. on the 21st, CoinMarketCap reported that Bitcoin had risen to 1.5 times its previous record in a week.
It is up 3.12% from the previous day to $87,353 (approximately 12.28 million yen), which is more than $3,000 up from the previous day's low of $84,045.
Bitcoin has risen by about 16% since hitting its lowest price of $74,830 million on April 7, and the gap to its all-time high has narrowed to 20%.
A 2.4% rise in one day is a common move for Bitcoin, but this rise is interpreted as an attempt to break through the upper limit of the box range that has continued since the beginning of March.
Scott Melker, known as "All Streets," said on X that "Bitcoin is breaking through," while "Nasdaq futures are falling 1%."
Market analysis media "The Kobeissi Letter" also reported through X that "the stories of gold and Bitcoin are aligning for the first time in years," citing the recent record high of gold.
He continued, "Gold has hit its 55th all-time high in the past 12 months, and Bitcoin has officially joined the rally."
"Gold and Bitcoin, along with the weakening US dollar, are signaling that greater uncertainty is on the way," he added.
The Dollar Index (DXY), which measures the U.S. dollar against six major currencies, rose 1.2% earlier this year.
The stock price fell by about 10% compared to the previous year. This is said to be due to the impact of rising global trade tensions.
Capital also cited Bitcoin’s rise as a “decoupling” from tech stock futures and a weaker dollar.
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