Bitcoin has reclaimed the $87,000 mark, demonstrating a notable rebound amid easing selling pressure and growing demand in the cryptocurrency market. After a turbulent start to 2025 marked by a sharp dip to around $76,600 in March, Bitcoin’s price has steadily climbed, reaching approximately $87,200 by April 20, 2025. This marks a roughly 10% increase over the past two weeks, reflecting renewed investor confidence and a potential shift toward a bullish trend.
Market analysts highlight that Bitcoin is currently trading within an ascending parallel channel, a technical pattern that often precedes a gradual price increase as buying momentum strengthens. Julio Moreno, Head of Research at CryptoQuant, notes that the decline in Bitcoin’s Realized Profit/Loss Margin suggests fewer investors are cashing out at a profit, which typically reduces selling pressure and supports price appreciation. With traders now facing unrealized losses if they sell, this dynamic could pave the way for Bitcoin to challenge the $90,000 resistance level soon.
This recovery follows Bitcoin’s record high near $96,500 in early March before the market correction. The current price action suggests a consolidation phase with strong support around $85,000 to $87,000, setting the stage for a possible breakout. Market watchers remain cautious but optimistic, as sustained momentum could push Bitcoin toward the $90,000 to $95,000 range in the near term.
Trading volume remains robust, and Bitcoin’s market capitalization stands above $1.7 trillion, underscoring its dominant position in the crypto space. Investors are closely monitoring key technical levels, including resistance near $88,000 and support around $85,000, which will be critical in determining the next directional move.
In summary, Bitcoin’s recent climb back over $87,000 signals a potential resurgence in bullish sentiment, with market conditions favoring further gains if selling pressure continues to ease and demand strengthens. The cryptocurrency community is watching closely to see if Bitcoin can sustain this momentum and approach new highs later this year.
