Bitcoin (BTC) retook $57,000 on April 30 as a surprise bullish end to month took traders by surprise.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$4.2 billion expiry gives way to big Bitcoin gains
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