Bitcoin (BTC) retook $57,000 on April 30 as a surprise bullish end a month took traders by surprise.
showed BTC / USD up 5% in hours on Friday to approach a green monthly close for April.
At the time of this edition, the 5 57,000 still formed a focus, with the pair needing to earn 5 58,800 to prevent the monthly April candle from turning red.
On social media, traders pointed out that the expiration of this month’s $4.2 billion options is out of the way and thus allows Bitcoin to move.
Too much for ” April red”
For Lex Moskovski, CIO as Moskovski Capital, the composition of the market on the day was cause for optimism.
“This increase in the price of Bitcoin is driven by spot. The funds even decreased a little, ” he said.
Moskovski referred to funding rates on exchanges, with a decline implying that short positions are “paying” long in a classic signal that the bullish momentum would continue.
Demand from spot buyers also indicates that BTC is being bought without leverage, which translates into a more organic shift from “real” coins to private wallets.
Just a few days ago, Bitcoin was on track to seal its biggest April losses since 2015 in stark contrast to the overall trend of the past twelve years.