- Stacks (STX) rallied 14% to reach levels seen in late March.
- Bitcoin (BTC) price jumped 3% to hit highs of $87k.
- A crypto analyst says Stacks’ price could see a 2x jump in the short term.
The price of Stacks (STX) rallied more than 14% to reach its highest level since late March.
Meanwhile, Bitcoin (BTC) led the charge up for cryptocurrencies as it surpassed the $87,000 mark for the first time since early April.
Bitcoin price was up about 4% as the overall crypto market rose 3% to $2.74 trillion.
BTC gains 3% as Strategy acquires 6,556 BTC
Bitcoin’s latest price surge came as some global stock markets opened on Easter Monday, and as gold smashed a new record high.
The weakening dollar helped the precious metal higher.
For BTC, which has tanked alongside equities, the surge to $87k came as market activity jumped, partly driven by a major acquisition by Strategy, formerly MicroStrategy.
According to a recent press release, Strategy acquired 6,556 Bitcoin.
It brings the Michael Saylor-led company’s total holdings to an impressive 538,200 BTC.
This acquisition, reported on April 21, 2025, has further fueled bullish sentiment in the market, reinforcing Strategy’s position as the world’s leading corporate holder of BTC.
Metaplanet also announced it added to its bitcoin haul, with the influx of institutional interest having picked up momentum in recent weeks, including via demand for exchange-traded funds.
Analysts suggest that this, and Bitcoin’s break to $87k, could pave the way for further gains, potentially testing the $90k area.
The psychological barrier of $100k lies within reach, likely a near-term target if buying pressure persists.
STX price jumps 14% to lead gainers
As Bitcoin rose to $87k, Stacks (STX) led altcoins as the top performer in the 100 largest by market cap segment.
STX price surged more than 14% in 24 hours, amidst Bitcoin’s rally.
According to data from CoinMarketCap, STX is currently trading around the levels seen in late March.
The technical setup, as highlighted by Captain Faibik on X, suggests a strong bullish outlook for STX.
Per the analyst, the layer 2 platform’s native token could see a 2x rally in the coming days.
The falling wedge breakout, a classic bullish pattern, indicates that STX has overcome a crucial resistance zone between $0.678 and $0.750, as shown in the chart.
Additionally, a post from the official Stacks X account on the same day underscores growing ecosystem activity, which may be contributing to the price surge.
bitcoin etfs were a major success—and global adoption keeps rising.
there’s never been a better time to build on bitcoin, and stacks is the place to do it. pic.twitter.com/Scw7QTVSmj
— stacks.btc (@Stacks) April 20, 2025
With Bitcoin’s upward trajectory providing a favorable market environment, STX’s rally could target higher levels.
Targets will include $1.50 and $2, last seen as key resistance levels ahead of a retest of $3.
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