Bitcoin Nears $90K as Crypto Boom Boosts Fartcoin, POL, and DeepBook Amid Weak Dollar
April 22, 2025
Bitcoin's price reached an impressive intraday peak of $88,877 on April 22, 2025, driven by a surge in institutional demand and a weakening US dollar.
The US Dollar Index has fallen to a three-year low, largely influenced by criticism from US President Donald Trump regarding the Federal Reserve's interest rate policies, which has enhanced Bitcoin's appeal as a hedge against economic uncertainty.
As Bitcoin approaches the $90,000 mark, investors in cryptocurrencies like Fartcoin, POL, and DeepBook are celebrating significant double-digit gains.
Fartcoin has rallied above $1.00, completing a 66% breakout of a cup and handle pattern, signaling a strong bullish trend.
Currently, Fartcoin's price remains above key moving averages, with the next resistance level identified at $1.20; however, a drop below $1.00 could indicate a pullback to lower support levels.
POL, formerly known as MATIC, has experienced a nearly 10% increase, now trading at $0.2195 after previously bottoming out at $0.1519.
The upward movement of POL is bolstered by the 50-day EMA, with potential targets set at $0.2676 and $0.3537 if the bullish trend continues.
Conversely, DeepBook's rally may be at risk of reversal due to an overbought RSI, with critical support levels identified at $0.1026 and $0.0901 should profit-taking occur.
Following its launch on the Sui Network, DeepBook surged over 40% on the day, peaking at $0.1991 before retracting to $0.1256.
Summary based on 1 source
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FXStreet • Apr 22, 2025
Top 3 gainers Fartcoin, POL, DeepBook: Altcoins surge as Bitcoin nears $90,000