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Bitcoin surged to $87,400 on April 21, marking its highest level in nearly a month. The rally coincided with a sell-off in the US dollar and a rise in gold prices, sparking discussions about Bitcoin’s evolving market behavior. Analysts are closely watching whether this signals a decoupling from traditional risk assets.
- Bitcoin's rally coincided with a drop in the US dollar index (DXY) and a surge in gold prices, suggesting a potential shift in market correlations.
- Analysts debate whether Bitcoin is decoupling from risk assets like stocks and aligning more closely with safe-haven assets such as gold.
- Technical traders identified $88,804 and $94,000 as critical resistance levels to confirm a sustained bullish trend for Bitcoin.
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