Bitcoin price has surged to $88,654, following a groundbreaking move by ARK Invest. On April 22, 2025, an American investment management firm, led by Cathie Wood, purchased $116 million worth of Bitcoin (BTC). This strategic Bitcoin investment by the leading asset management firm has made headlines across major Bitcoin news platforms. Further, it is fueling speculation among the traders, that this kind of institutional support could push Bitcoin to new heights. Likely, Bitcoin has responded positively, experiencing upward momentum, and marks the beginning of a new phase of Bullish activity.
In this article, we have provided the price analysis of Bitcoin for the last 24 hours to know how ARK Invest’s bold move impacted Bitcoin price in the crypto market. Let’s dive in.
Bitcoin Climbs Above $87K – April 21, 2025
On April 21, 2025, the trading day commenced with Bitcoin having established an upward price trajectory, demonstrating a strong bullish wave. In the initial trading session, Bitcoin began to move up, broke the resistance at $85,291, breached a breakout, spiked, and entered the phase of trading range. At 02:20 UTC, Bitcoin resisted and experienced a shortfall. This ensuing downtrend was endorsed by a Death Cross on MACD at 02:15 UTC. However, at 04:30 UTC, Bitcoin found support at $87,045, began to move up, and kept fluctuating within the trading range. Subsequently, at 09:10 UTC, a pin bar, followed by a full-body red candle, signaled a potential downtrend.
As expected, Bitcoin resisted, began to fall, broke the support at $87,045, breached a breakout, and dropped to $86,634. At 11:40 UTC, Bitcoin encountered an RSI oversold situation, indicating a possible trend reversal. Likely, Bitcoin found support at $86,634, pulled back, and moved in an upward channel. A Golden Cross on MACD at 11:55 UTC reaffirmed this uptrend. At 14:25 UTC, Bitcoin encountered an RSI Overbought situation, indicating a possible downtrend. Likely, at 14:30 UTC, Bitcoin resisted at $88,444, began to fall, breached a breakout, and dropped back to $86,634. Conversely, at 17:10 UTC, Bitcoin found support at $86,634, experienced an uptrend, and closed at $87,569.
Bitcoin Tops $88,654 – April 22, 2025
Following the preceding day’s upward momentum, on April 22, 2025, the Bitcoin price continued to experience an upward movement. At 01:15 UTC, Bitcoin encountered an RSI Overbought situation, indicating a potential trend reversal. As expected, at 01:20 UTC, a pin bar, followed by a full-body red key bar, signaled a potential downtrend. Likely, Bitcoin resisted at $88,654, began to fall, and keeps fluctuating. A Death Cross on MACD at 02:05 UTC reaffirmed this downtrend.
Bitcoin’s Possible Scenario
Based on today’s price analysis, it is evident that Bitcoin is experiencing sharp price movements, demonstrating a strong bullish sentiment in the crypto market. In a possible scenario, if Bitcoin price movement breaks the resistance at $88,654, it could reach a new high, indicating a strong bullish wave. If Bitcoin fails in its attempt, it could fall, break the key support at $86,634, and encounter bearish momentum.
As ARK Invest has made a big move with Bitcoin investment, Bitcoin surges. Further, this has become a trending topic in Bitcoin news, capturing the attention of investors and traders across the globe. Since the crypto market is volatile due to political uncertainty, we suggest that readers do market research to know the potential risks and rewards before investing.
Source: Coinfomania / Digpu NewsTex