Bitcoin rose to $88,000 over the weekend

On April 22, Bitcoin surpassed the psychological level of $88,000 for the first time since the beginning of the month, showing a daily gain of over 2.8%. At the time of writing, the asset is trading at $88,038.

Institutional Interest on the Rise

Bitcoin trading volume surged to $26 billion — an 88% increase in just 24 hours. Analyst Dominic John attributed the breakout to rising global liquidity, the expansion of M2 money supply, and renewed institutional demand, highlighting Strategy (formerly MicroStrategy) as a key market signal.

Despite market volatility, Strategy acquired 3,459 BTC. Its CEO, Michael Saylor, once again emphasized Bitcoin’s unique nature: «Bitcoin has no counterparty. No company. No country. No creditor. No currency. No competitor. No culture. It’s not even afraid of chaos».

Market Reactions and Expert Warnings

Despite the rally, some experts are urging caution. Peter Chang of Presto Research noted that «it’s too early to say we’ve left the turbulence behind,» citing ongoing trade talks, high 10-year bond yields, and a weakened U.S. dollar as risk indicators.

However, Chang pointed out that Bitcoin’s April performance has outpaced leading stock indices like the S&P 500, Nasdaq, and even the Magnificent 7 — the seven largest U.S. tech firms.

The market rally led to over $218 million in liquidations of futures positions, with short traders on Bitcoin and Ethereum suffering $82.49 million and $41.2 million in losses, respectively.

The crypto Fear and Greed Index fell to 34, signaling a zone of «fear» and reflecting cautious sentiment among investors.