Friday, April 30, 2021 4:07:29 PM
April 30 2021 - 01:14PM
Cointelegraph
A crazy few hours sees volatility return, with spot buyers noticeably in charge over leveraged traders.
https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/84975679/bitcoin-hits-57k-in-surprise-surge-to-almost-eras
WILLIAM SUBERG
2 HOURS AGO
Bitcoin hits $57K in surprise surge to almost erase April BTC price crash
A crazy few hours sees volatility return, with spot buyers noticeably in charge over leveraged traders.
$4.2 billion expiry gives way to big Bitcoin gains
Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD climbing 5% in hours on Friday to come within inches of a green monthly close for April.
At press time, $57,000 still formed a focus, with the pair needing to clinch $58,800 to avoid April's monthly candle turning red.
On social media, traders pointed to this month's $4.2 billion options expiry being out of the way and thus allowing Bitcoin room to move.
As Cointelegraph often reports, expiry events tend to pressure price beforehand, but post factum relief rallies differ considerably in strength, sometimes not appearing at all.
So much for "red April"
For Lex Moskovski, CIO as Moskovski Capital, the composition of the market on the day was a cause for optimism.
"This Bitcoin price surge is driven by spot. Funding even decreased a bit," he noted.
Moskovski referred to funding rates on exchanges, with a decrease implying that short positions are "paying" longs in a classic sign that upward momentum would continue.
Spot buyer demand likewise signals that BTC is being bought without leverage, which translates to a more organic shifting of "real" coins to private wallets.
Just days ago, Bitcoin was on its way to sealing its biggest April losses since 2015 in a stark contrast to the general trend of the past twelve years.
https://cointelegraph.com/news/bitcoin-hits-57k-in-surprise-surge-to-almost-erase-april-btc-price-crash
Recent BTCUSD News
- Zeneca’s portfolio peaked at $20M — and he has ‘2021 vibes’ again: NFT Collector • Cointelegraph • 05/23/2024 03:30:00 PM
- Bitcoin vs. Silver — A ‘$93,000 BTC Price’ Aims to Topple the Precious Metal Giant • ZyCrypto • 05/23/2024 02:55:16 PM
- PrimeXBT’s brand revamp: new look, new features, and more • NEWSBTC • 05/23/2024 02:40:21 PM
- Coinbase resumes XRP trading in New York • Crypto Briefing • 05/23/2024 02:37:13 PM
- Bitcoin Expected To Peak Soon? Analyst Forecasts Timeline, Here’s When • NEWSBTC • 05/23/2024 02:30:50 PM
- Hong Kong SFC considers allowing Ether staking for ETF issuers • Cointelegraph • 05/23/2024 02:05:18 PM
- VCs dump $125M into new AI music platform — Can we all become beat makers? • Cointelegraph • 05/23/2024 01:53:14 PM
- Why is Solana (SOL) price down today? • Cointelegraph • 05/23/2024 01:33:58 PM
- Can Ethereum ETFs thrive without staking amid SEC scrutiny? • Cointelegraph • 05/23/2024 01:33:16 PM
- Court ruling dismantles would-be Bitcoin creator Craig Wright’s false claims • Cointelegraph • 05/23/2024 01:33:00 PM
- US Lawmakers pressure SEC for Ethereum ETF approval • Crypto Briefing • 05/23/2024 01:19:39 PM
- Déjà Vu? Bitcoin Price Eyes Repeat Performance, Could Hit $140,000 By August – Analyst • NEWSBTC • 05/23/2024 01:00:27 PM
- Here’s what happened in crypto today • Cointelegraph • 05/23/2024 12:39:07 PM
- Hong Kong central bank studies AI's impact on banking jobs and skills • Cointelegraph • 05/23/2024 12:27:09 PM
- Bitcoin price at $150K in 2024 is 'base case' — Tom Lee • Cointelegraph • 05/23/2024 12:07:21 PM
- Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto • NEWSBTC • 05/23/2024 12:00:12 PM
- What is a crypto vault, and how does it work? • Cointelegraph • 05/23/2024 11:35:00 AM
- Nigerian prison fails to bring Binance exec to court • Cointelegraph • 05/23/2024 10:50:37 AM
- Ethereum ETF decision due in hours as BTC price gets $80K May target • Cointelegraph • 05/23/2024 09:54:20 AM
- Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House • NEWSBTC • 05/23/2024 09:30:04 AM
- StarkWare ZKThreads solution could prevent fund lockups similar to FTX • Cointelegraph • 05/23/2024 09:29:13 AM
- Bybit CEO refutes insolvency rumors, shares proof-of-reserves • Cointelegraph • 05/23/2024 09:08:26 AM
- How to find a reliable crypto liquidity provider • Cointelegraph • 05/23/2024 08:24:31 AM
- Bitcoin Runes hype fades, transactions plummet 84% • Cointelegraph • 05/23/2024 07:55:56 AM
- Next Big Move For Bitcoin: Analysts Predict A Potential Breakout At $71,500 • NEWSBTC • 05/23/2024 07:22:07 AM
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM