Source: Cointelegraph Original: "{title}"
Bitcoin (BTC) breaks through $93,000, reaching a 7-week high, with the upward trend continuing after Easter, as recent macro events have analysts optimistic about future performance.
According to CoinMarketCap data, Bitcoin rose 5.62% in the past 24 hours, first surpassing $93,000 on April 22, marking a new high since March 3. Over the past 7 days, Bitcoin's price has accumulated a 12% increase.
Bitcoin quickly surged from below $91,500 to $93,000 in just a few minutes, with traders speculating on where this upward trend will lead.
Bitcoin commentator Michael Sullivan stated in an April 22 post on X platform: "This is the craziest one-minute candlestick I've ever seen on a Bitcoin chart."
A trader using the pseudonym Crypto General remarked: "Bitcoin's movement is completely in line with expectations. As mentioned in the previous post, a breakout was imminent, and today we witnessed that breakout."
Just hours before Bitcoin's rise, cryptocurrency commentator "Ted" told his 158,200 followers on X platform that Bitcoin would "catch up" to gold, with the $100,000 price level (not seen since February 3) "loading."
This surge is attributed to improved sentiment in the cryptocurrency market, continued inflows into spot Bitcoin ETFs, and Trump's softened stance on the trade war.
On the same day, Trump stated he had "no intention of firing" Federal Reserve Chairman Powell, after previously criticizing him for not lowering interest rates. Just days earlier, on April 17, Trump had again called for Powell's dismissal on Truth Social, sparking market speculation about potential actions to remove Powell.
Meanwhile, Trump indicated that tariffs on Chinese goods would be "significantly reduced," although "not down to zero," which led cryptocurrency analysts to adopt a more optimistic market sentiment.
Economist and cryptocurrency trader Alex Kruger stated in an April 22 post on X platform: "Trump just checked off most of the easing/bullish options." Investing with Brandon also believes this news is "bullish" for the market.
At the same time, the previous day, 11 spot Bitcoin ETFs in the U.S. collectively saw a net inflow of $381.3 million.
According to Google Finance data, traditional financial markets also experienced broad gains on April 22, with the S&P 500 rising 2.51%, the Nasdaq rising 2.87%, and the Dow Jones rising 2.66%.
Related: Trump Media Technology Group partners with Crypto.com to launch "Made in America" themed ETF
This article does not constitute investment advice or recommendations. Any investment and trading activities carry risks, and readers should conduct their own research before making decisions.
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