Monday’s move higher triggered market-wide short liquidations worth over $300 million, the highest single-day tally since at least early December, according to Coinglass.com.
The recent move higher has indeed been steep.
“We have the continued buying support from Terra’s Luna Foundation Guard.
There has been renewed investor interest in bitcoin and crypto-linked investment vehicles.
Data provided by charting platform TradingView shows bitcoin has chalked up gains in April in seven out of the past 10 years.
Lastly, bitcoin’s weekly chart is showing signs of bullish revival.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.