Bitcoin Rebounds to Over $90,000, Highest Level in More Than a Month
Most altcoins are also in the green—with gains of up to 6.7%—led by SUI, Dogecoin (+5.4%), and Solana (+3.3%).
Quick overview
- Cryptocurrencies are experiencing gains this Tuesday, with Bitcoin surpassing $90,000 and altcoins like SUI and Dogecoin also rising.
- Wall Street stocks are rebounding after a downturn, with the Dow Jones up 573 points and the S&P 500 and Nasdaq also seeing increases.
- Analyst Doctor Profit accurately predicted Bitcoin's recent rally and suggests a potential correction to the $70,000–$74,000 range could be a key inflection point.
- Despite short-term bearish warnings, Doctor Profit remains optimistic about Bitcoin reaching new all-time highs between $120,000 and $140,000 in mid-2025.
Live BTC/USD Chart
Cryptocurrencies are rising this Tuesday, supported by a rebound on Wall Street. Bitcoin has surged past $90,000, gaining 2.7% in the last 24 hours, while most altcoins are also in the green—with gains of up to 6.7%—led by SUI, Dogecoin (+5.4%), and Solana (+3.3%).
On Wall Street, stocks are climbing as traders attempt to recover from Monday’s downturn, which was triggered by fresh criticism from former President Trump directed at Fed Chair Jerome Powell, shaking investor confidence. The Dow Jones Industrial Average is up 573 points (1.5%), the S&P 500 is rising 1.5%, and the Nasdaq Composite is up 1.8%.
In this volatile environment, technical analysis is taking center stage again. Renowned analyst Doctor Profit had predicted Bitcoin’s recent behavior with surprising accuracy. In a post dated March 21, he forecasted a rebound from the 50-week exponential moving average (EMA 50)—which he calls the “Golden Line”—around $76,000, followed by a rally toward the $87,000–$88,000 range. That scenario has unfolded almost exactly throughout April.
His forecast partly relied on the relationship between Bitcoin and the M2 money supply—an indicator Doctor Profit believes is underestimated by the market. In his view, the rally that began in September 2024 had already priced in the liquidity expansion seen since February, contradicting the prevailing investor narrative.
What the Market Is Watching Now
Attention is now turning to the next phase of Bitcoin’s movement: a potential correction into the $70,000–$74,000 range. According to the analyst, this zone will be a key inflection point. If Bitcoin briefly dips into that range but closes above the Golden Line, it would confirm a bullish reversal, encouraging the accumulation of long positions. Conversely, a sustained close below that support level could trigger a deeper drop—potentially as low as $50,000 in an extreme “Black Swan” scenario, as described by the analyst.
Despite this short-term bearish warning, Doctor Profit remains optimistic about the second half of 2025. He believes that after the correction expected in April or early May, the market could resume its upward trend, aiming for new all-time highs in the $120,000–$140,000 range between May and June.
For now, with Bitcoin trading at $87,526 and climbing more than 3% daily, all eyes are on whether the price can close the week above $100,000. Such a move would completely invalidate the current bearish thesis and potentially mark the beginning of a new bullish cycle.
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