Bitcoin (BTC) has broken a months-long downtrend and is targeting $90,000 and beyond. The cryptocurrency has also spectacularly outperformed stocks. Forecast: Is the Easter rally now beginning – or is the price still lacking momentum?
Forecast: Bitcoin isn’t far off from a price explosion
Things are happening again with Bitcoin and other cryptocurrencies: After a weak first quarter, the number one cryptocurrency has finally managed to break its months-long downtrend. +3.41% on the weekly chart, +1.11% within the last 24 hours: “Bitcoin is approaching $85,000 and is aiming for a breakout,” commented popular crypto trader Michael van de Poppe in a forecast on X. After the long bear phase: Will the rise succeed over Easter, can investors expect a holiday rally? Whether that’s possible in the short term remains to be seen. Poppe is at least optimistic about the price, predicting: “Good things will come.”
Current price per BTC: $84,376. Technical chartist CryptoJelleNL adds in a forecast: So far, Bitcoin has successfully defended the support at $84,000. However, for the market structure to fully turn bullish, a push above $88,700 is needed. However, according to the forecast, the price explosion is only +5.12% away. Some altcoins are leading the way and are already making significant gains – today’s top performers are Solana DEX token Raydium (RAY), which has risen by +11.18% within the last 24 hours, Hyperliquid (HYPE, +9.19%), Onyxcoin (XCN, +6.77%), and Ethereum competitor Solana (SOL, +6.97%). Overall, the global crypto market capitalization increased by +0.82% overnight, bringing it to $2.66 trillion (data from Coinmarketcap.com). Incidentally, the previous all-time high is $3.8 trillion – so the crypto markets still have plenty of room to rise before old record highs are recaptured. Nevertheless, the direction seems clear – it’s up.
“Show of power”: Bitcoin is overtaking stocks
“This isn’t just a bull market – it’s a show of digital power,” writes popular Bitcoin analyst CarlBMenger, referring to BTC’s recent performance. Bitcoin, according to the chart expert, is currently “vaporizing” the Nasdaq and thus technology stocks like Apple, Microsoft, and Amazon. The industry observer shows a chart comparing Bitcoin (BTC) with the Nasdaq (QQQ). It becomes clear: Bitcoin has dramatically outperformed the stock index in terms of performance over the past 15 days. A complete trend reversal, the return of the bulls – is within reach.
Trump’s First Crypto Law: A Milestone for Privacy
Meanwhile, the self-proclaimed “Crypto President” Donald Trump is causing a stir with the United States’ first Bitcoin law. The recently passed draft regulates many aspects of data protection – in favor of investors. For example, identity verification (KYC, “Know Your Customer”), comprehensive data matching, and the reporting requirement, which required DeFi platforms or crypto exchanges to report information about their users (such as identity and transactions) to authorities, will no longer be required. Furthermore, the Department of Justice has dissolved the National Cryptocurrency Enforcement Unit (NCET), which was established under President Biden to monitor cryptocurrencies. US Attorney General Todd Blanche emphasizes that this measure is in line with Trump’s decree to create regulatory clarity for the industry. Experts are convinced that the law marks a milestone for crypto investors in the US – with it, Trump is sending a strong message.
The long-term effects of the new regulations are still uncertain, but the goal is clear: more freedom and privacy, less surveillance and bureaucracy. Investors aren’t the only ones who benefit: The lifting of restrictive regulations also makes it easier for startups and companies to develop new crypto products and services without potentially entering a legal gray area. This is bullish for the market, as it supports the growth of the entire ecosystem. Top influencer “Ash Crypto” also makes it clear to his 1.7 million followers on X: “This represents a major victory for crypto.”
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