In the latest episode of "Bitcoin's Wild Ride," our favorite digital diva has once again managed to outshine every drama we thought we had this month. Who can resist a Bitcoin melodrama where everyone is left asking: Who's buying all this magic internet money, and more importantly, why?

According to Maartunn from the CryptoQuant community (a person who probably sees more numbers than daylight), this latest soap opera isn't about people buying Bitcoin directly. Nope, it's more of a mystical leverage-driven rally. You can’t see it, but it’s there ─ like an imaginary friend from your childhood.

It seems that something special was in the Easter air. Perhaps a rejuvenating basket of risk assets caught investors' fancy, as they embraced Bitcoin like a long-lost lover. With the cryptocurrency dancing above $89,000, reaching heights not seen since March, one might wonder if the Easter Bunny has a newfound investment strategy.

While Bitcoin attempted to strut its stuff past $90,000, it found itself hilariously trying to hurdle the reinforced wall of sell-side liquidity, like me attempting a three-course meal on a diet. It's the classic tale: all dressed up in an upscale price but nowhere to go.

Supporting this epic price saga are some trusty sidekicks like a weakening US dollar and surprisingly high global M2 money supply—a dynamic duo worthy of their own spinoff series. Meanwhile, traders are seeing Bitcoin decouple from traditional markets like a reality TV star getting divorced.

Our analysts, eagerly playing the role of theater critics, have been marveling at Bitcoin's technical self-liberation from what was a multi-month 'downtrend prison.' By breaking free, Bitcoin has entered the dazzling spotlight of potential uptrend… or at least a smooth jazz number of price stability.

Behind the scenes, if you shine a brave torch into the cryptospheric caverns, you'll see the derivatives market jumping up and down in excitement. A whopping 17% surge in Bitcoin open interest reveals that even the backstage crew is part of this bullish hype train.

With the Bitcoin rollercoaster in full gear, everyone’s eyes are glued to see whether this show will end with BTC kissing the $90,000 ceiling or tumble in a plot twist no one saw coming. Whatever the next act holds, you can bet Bitcoin will keep performing faster than the tabloids can type it all up. Stay tuned, folks, the Bitcoin show is just getting started!