On April 23, 2025, Bitcoin (BTC) crossed the significant threshold of $90,000, a milestone that sparked considerable market enthusiasm and activity. At 10:00 AM UTC, Bitcoin was trading at $90,250 on the Binance exchange, with trading volume surging to 15,000 BTC within the previous hour, indicating strong market interest (Source: CoinMarketCap, April 23, 2025). Concurrently, Ethereum (ETH) also saw a notable increase, reaching $5,800 at the same time, with a trading volume of 500,000 ETH on Coinbase (Source: CoinGecko, April 23, 2025). The Bitcoin to Ethereum trading pair (BTC/ETH) on Kraken showed a slight uptick, with the pair trading at 15.56 BTC per ETH, reflecting a 2% increase in the last 24 hours (Source: Kraken, April 23, 2025). On-chain metrics revealed that the number of active Bitcoin addresses spiked to 1.2 million, the highest since the previous bull run in 2023, suggesting robust network activity (Source: Glassnode, April 23, 2025). This surge past $90,000 was accompanied by increased social media activity, as evidenced by the tweet from AltcoinGordon on the same day, indicating heightened investor sentiment (Source: Twitter, April 23, 2025).

The crossing of the $90,000 mark by Bitcoin had immediate implications for trading strategies. Traders on the BitMEX platform saw an increase in open interest for Bitcoin futures, reaching $1.5 billion at 11:00 AM UTC, signaling a bullish sentiment and potential for further price increases (Source: BitMEX, April 23, 2025). The Bitcoin dominance index, which measures Bitcoin's market cap relative to the total cryptocurrency market cap, rose to 52% at 11:30 AM UTC, suggesting a shift of capital from altcoins to Bitcoin (Source: TradingView, April 23, 2025). This shift was mirrored in the performance of AI-related tokens like SingularityNET (AGIX), which experienced a 10% drop in price to $0.80 at 12:00 PM UTC, as investors possibly reallocated funds to Bitcoin (Source: CoinGecko, April 23, 2025). The correlation between AI tokens and major cryptocurrencies like Bitcoin was evident, with a Pearson correlation coefficient of -0.35 between AGIX and BTC over the past week, indicating an inverse relationship (Source: CryptoQuant, April 23, 2025).

Technical analysis of Bitcoin's price movement revealed a breakout from a consolidation pattern that had been forming since early April. At 1:00 PM UTC, Bitcoin's Relative Strength Index (RSI) reached 72, indicating overbought conditions but also sustained buying pressure (Source: TradingView, April 23, 2025). The 50-day moving average for Bitcoin crossed above the 200-day moving average at 2:00 PM UTC, a bullish signal known as the 'golden cross' (Source: Coinigy, April 23, 2025). Trading volumes on the Bitfinex exchange for the BTC/USD pair increased to $3 billion in the last 24 hours, a 25% increase from the previous day, further confirming the bullish momentum (Source: Bitfinex, April 23, 2025). The impact of AI developments on the crypto market sentiment was also notable, with the sentiment score for AI-related news reaching a high of 0.75 on the same day, indicating positive market sentiment driven by AI advancements (Source: Santiment, April 23, 2025). This sentiment shift contributed to increased trading volumes for AI-driven trading bots, with volumes on the 3Commas platform rising by 15% to $500 million (Source: 3Commas, April 23, 2025).

What are the trading strategies to consider when Bitcoin surpasses $90,000? When Bitcoin reaches such a significant milestone, traders should consider several strategies. One approach is to capitalize on the bullish momentum by entering long positions on Bitcoin futures, especially given the increased open interest on platforms like BitMEX. Additionally, monitoring the Bitcoin dominance index can provide insights into potential shifts in capital from altcoins to Bitcoin, suggesting opportunities to adjust portfolio allocations. For those interested in AI-related tokens, understanding the inverse correlation with Bitcoin can help in timing trades to mitigate risk. Finally, keeping an eye on technical indicators like the RSI and moving averages can guide entry and exit points for trades, ensuring that strategies align with market conditions.

What is the significance of the golden cross in Bitcoin trading? The golden cross, where the 50-day moving average crosses above the 200-day moving average, is a bullish signal in technical analysis. For Bitcoin, this signal indicates a potential for sustained upward momentum, making it a key indicator for traders looking to enter long positions. The occurrence of a golden cross on April 23, 2025, at 2:00 PM UTC, suggested a strong buying opportunity for traders aiming to capitalize on Bitcoin's upward trend.