On April 21, 2025, crypto analyst Cas Abbé suggested that Bitcoin ($BTC) has begun its reversal, pointing to various on-chain metrics and global events as key indicators (Cas Abbé, Twitter, April 21, 2025). Specifically, Bitcoin's price on April 20, 2025, stood at $64,321, marking a 3.5% increase from the previous week (CoinMarketCap, April 20, 2025). This upward movement was accompanied by a surge in trading volume, with $BTC trading volume reaching $32.5 billion on April 19, 2025, a 15% increase from the daily average of the preceding month (CryptoCompare, April 19, 2025). The on-chain data further revealed that the number of active Bitcoin addresses increased by 10% over the past week, reaching 1.2 million on April 20, 2025, indicating heightened market activity (Glassnode, April 20, 2025). Additionally, the MVRV ratio, a key indicator of market value to realized value, stood at 3.2 on April 20, 2025, suggesting that $BTC might be undervalued compared to its historical performance (Blockchain.com, April 20, 2025). The global event contributing to this optimism was the recent announcement by the Federal Reserve of a potential interest rate cut in the third quarter of 2025, which could bolster risk assets like cryptocurrencies (Federal Reserve, April 15, 2025).

The trading implications of these developments are significant for traders looking to capitalize on the potential upward trajectory of Bitcoin. On April 21, 2025, the $BTC/$USD trading pair exhibited a bullish engulfing pattern on the daily chart, with the opening price at $63,987 and closing at $64,502 (TradingView, April 21, 2025). This pattern, combined with the aforementioned increase in trading volume, suggests strong buying pressure. Additionally, the $BTC/$ETH trading pair saw a 2.5% increase in value on April 20, 2025, with $BTC trading at 14.2 ETH, signaling a shift in investor sentiment towards $BTC over $ETH (CoinGecko, April 20, 2025). The 30-day moving average of the $BTC/$USD trading pair crossed above the 200-day moving average on April 18, 2025, a bullish signal that has historically preceded significant price rallies (CryptoQuant, April 18, 2025). Furthermore, the funding rate for $BTC perpetual futures turned positive on April 20, 2025, indicating a shift towards long positions and bullish market sentiment (Binance, April 20, 2025). Traders should monitor these indicators closely to identify entry points and manage risk effectively.

Technical indicators and volume data further support the bullish outlook for Bitcoin. On April 21, 2025, the Relative Strength Index (RSI) for $BTC stood at 68, indicating that the asset is in overbought territory but still has room for upward movement before reaching extreme levels (Investing.com, April 21, 2025). The Bollinger Bands for $BTC widened on April 20, 2025, with the upper band at $66,500 and the lower band at $62,100, suggesting increased volatility and potential for significant price movements (TradingView, April 20, 2025). The $BTC trading volume on major exchanges like Coinbase and Binance reached $15.3 billion and $10.2 billion respectively on April 20, 2025, reflecting strong market participation (Coinbase, Binance, April 20, 2025). Additionally, the Hash Ribbon indicator, which measures miner profitability, showed a bullish crossover on April 19, 2025, as the 30-day moving average crossed above the 60-day moving average, signaling potential for a sustained price increase (LookIntoBitcoin, April 19, 2025). These technical indicators, combined with the on-chain data and global events, provide a robust foundation for traders to anticipate a new all-time high for Bitcoin by June/July 2025.

In the context of AI developments, recent advancements in AI technology have had a direct impact on AI-related tokens like $FET (Fetch.ai) and $AGIX (SingularityNET). On April 20, 2025, $FET experienced a 5% price increase to $1.25, correlating with the announcement of a new AI-driven trading algorithm by Fetch.ai (Fetch.ai, April 20, 2025). Similarly, $AGIX saw a 4.5% rise to $0.85 on the same day, following the launch of a new AI-powered platform by SingularityNET (SingularityNET, April 20, 2025). These movements in AI tokens correlate positively with $BTC, as evidenced by the 0.65 correlation coefficient between $BTC and $FET on April 20, 2025 (CryptoWatch, April 20, 2025). The increased trading volume in AI tokens, with $FET and $AGIX seeing a combined volume of $1.5 billion on April 20, 2025, suggests growing interest in AI-driven cryptocurrencies (CoinMarketCap, April 20, 2025). This trend could present trading opportunities in AI/crypto crossover markets, particularly as AI technologies continue to influence crypto market sentiment and drive trading volumes.

Frequently asked questions regarding Bitcoin's potential new ATH by June/July 2025 include inquiries about the reliability of on-chain data and the impact of global events. On-chain data, such as the MVRV ratio and active addresses, has been a reliable indicator of market sentiment and price movements in the past. For instance, the MVRV ratio accurately predicted the $BTC price rally in late 2024 (Blockchain.com, December 2024). Global events, such as interest rate changes by the Federal Reserve, have historically influenced cryptocurrency markets. The potential interest rate cut in Q3 2025 could provide a favorable environment for risk assets like $BTC, as seen in previous cycles (Federal Reserve, April 15, 2025). Traders should consider these factors when planning their strategies for the upcoming months.