Within two days, the price of Bitcoin has increased by $10,000. This means the crypto veteran has once again exceeded the $90,000 mark. What is fueling the cryptocurrency’s sudden growth?
Bitcoin breaks $90,000 again: Price rises by $10,000 in just two days
After several setbacks last month and a low of $74,800, Bitcoin (BTC) has climbed $10,000 in just two days. At the time of writing, it is trading at around $94,100, representing gains of
6.38 percent within 24 hours,
12.96 percent over the past seven days, and
8.35 percent for the month.
But what triggered the upward push? Most likely, increased investor demand following the International Monetary Fund’s (IMF) bleak economic outlook for April 2025. The IMF downgraded US growth to 2.8 percent and raised inflation expectations to 3 percent. The consequence: global concern about the economic future.
Within just an hour of the report’s publication, the Bitcoin price had risen – as had the total crypto market capitalization ($2.9 trillion).
Analysts also attribute the growing interest to the fact that gold has also become more expensive and the US Dollar Index has fallen sharply. Some are asking: Will Bitcoin decouple from traditional financial markets in the long term? This is far from certain. If the US Dollar Index recovers, the trend could reverse.
Altcoins are also on the rise – Ethereum (ETH) up 10 percent
Not only is the Bitcoin price on the rise, altcoins are also recording gains. The second-largest cryptocurrency, Ethereum (ETH), for example, has grown by 10.76 percent within a single day and is now trading at $1,800.
Solana (SOL) fans can also celebrate a gain of 9.02 percent. One SOL currently costs around $153. After crashing at a low of $96 in early April, the digital currency has made strong gains again.
Dogecoin (DOGE) is also experiencing a resurgence. With an increase of 11.66 percent within 24 hours, the popular memecoin is currently trading at $0.1823.
Is the difficult crypto phase over? Should investors now buy altcoins and Bitcoin? As always, there’s no general answer.
Strategy CEO Michael Saylor, however, is optimistic about current crypto developments. In a post on the social media platform X (formerly Twitter), he praises the new SEC Chairman Paul Atkins and writes that he will be “good for Bitcoin.”
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