Bitcoin Price Breaks Above $90K: What’s Driving BTC’s Rally?

Bitcoin is back in the driver’s seat. The benchmark crypto broke through the $90,000 barrier on Tuesday, its first visit to that level since March 7.

The breakout caps a 3.3% daily jump and lifts the weekly tally to 7.3%, reminding anyone who drifted into altcoin land that BTC still calls the shots. Market share numbers underline the point. CoinGecko now pegs Bitcoin dominance at 61.6%—a four‑year peak that has inched higher throughout the day.

In other words, money is rotating out of side bets and into the main show.

On the ETF front, the majority of US spot‑bitcoin ETFs netted positive gains, hauling in over 381M on Monday, the biggest one‑day grab since Jan. 30’s $588M, and the fourth inflow in five sessions, according to SoSo Value data:

That fresh demand has helped BTC tack on more than 9% so far in April, matching gold’s gain, while the dollar index has declined 5%.

Altcoins are green, but they’re trailing. Ethereum managed a 1.5% lift, XRP scraped out 1%, while Solana and Dogecoin showed more life, each tacking on roughly 4%. While those are some modest moves, nothing compared Bitcoin’s renewed momentum.

That momentum is wrecking leverage. CoinGlass estimates that roughly $320M in liquidations occurred over the past 24 hours, with short positions accounting for $190 million of the carnage. Bears betting on a rejection at $90K found out—again—that round numbers don’t always behave like ceilings.

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The decoupling stands out: earlier this month, tariff drama yanked bitcoin around in lockstep with equities. Now its 30-day correlation with the S&P is down to 0.65, Compass Point analyst Ed Engel noted on Tuesday, well below the near-perfect 1.0 seen during previous macro sell-offs.

What’s Driving Bitcoin’s Surge?

The reason can be attributed to the stock market having another day of turbulence, and investors rushing in to alternative assets.

The flagship crypto punched through $90,000 just as US stocks cratered on Monday, an ugly session that saw former President Donald Trump demand an immediate rate cut and float the idea of firing Fed Chair Jerome Powell before his term ends in mid-2026.

Wall Street didn’t like the headline risk: the S&P 500 slid again, bringing its month‑to‑date loss to 6 %.