Why Is Bitcoin Price Up Today? Here’s What’s Fueling the Surge
The post Why Is Bitcoin Price Up Today? Here’s What’s Fueling the Surge appeared first on Coinpedia Fintech News
Bitcoin Price today has soared nearly 11.7% over the past week and 5.9% in the last 24 hours, defying broader market turmoil. While U.S. stock prices have plummeted due to escalating tariff tensions and a weakening dollar, Bitcoin is rallying, alongside gold, sparking fresh debate about its role as a safe-haven asset.
Bitcoin Price Surges as Stocks Sink: What’s Driving the Divergence?Since April 19, Bitcoin has climbed over 10.7%, while the S&P 500 and Nasdaq 100 have fallen 5.25% and 4.27%, respectively. This sharp contrast points to a potential decoupling between crypto and equities. Bitcoin’s 30-day correlation with the S&P 500 currently stands at 0.65, indicating a partial break from traditional market trends.
The rally was triggered by U.S. Treasury Secretary Scott Bessent’s recent statement suggesting that the ongoing tariff standoff with China is unsustainable, encouraging risk-on sentiment in the crypto market.
Weakening US Dollar and Fed Pressure Fuel the RallyThe US Dollar Index (DXY) has dropped by 4.81% this month, including a 0.77% fall on April 21 alone. This decline comes amid President Trump’s pressure on Fed Chair Jerome Powell to cut interest rates. A weaker dollar has historically boosted Bitcoin, and that’s exactly what the market is witnessing now. Since April 21, BTC has surged nearly 9.93%, reaching $93,637.39.
.article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Bitcoin Mirrors Gold: Is It Becoming a Safe-Haven Asset?Interestingly, Bitcoin’s price action is now moving in tandem with gold. The gold price has risen by 11.37% since April 9, with a 2.83% increase in the past week, closely mirroring Bitcoin’s 11.7% rise in the same timeframe.This parallel movement suggests that Bitcoin is increasingly being treated like gold—a hedge against macroeconomic uncertainty.
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FAQs
How does a weak US dollar affect Bitcoin price? A weaker dollar boosts Bitcoin’s appeal as a store of value, often leading to increased demand and price surges.
How much will 1 Bitcoin be worth in 2030?With increased adoption, the price of 1 Bitcoin could reach a height of $901,383.47 in 2030.
How much will the price of Bitcoin be in 2040?As per our latest BTC price analysis, Bitcoin could reach a maximum price of $13,532,059.98
How high will Bitcoin go in 2050?By 2050, a single BTC price could go as high as $377,949,106.84