According to data from Kaiko, Bitcoin (BTC) strengthened to $70,711 during the day. In April, the price fluctuation range of the leading cryptocurrency reached its highest level since November 2022.
At the beginning of the month, BTC volatility jumped to 83%. It is noteworthy that since February, Bitcoin has occasionally demonstrated higher volatility compared to Ethereum (ETH).
The company’s research showed that the gap between the two leading digital currencies reached its highest level since December 2019.
In early April, BTC sharply fell to $65,264 but recovered to $71,731 just a week later. By mid-month, the cryptocurrency faced sell-offs again and dropped to $69,115.
Yesterday, support intensified, partly thanks to large market players — whales and sharks. As a result, Bitcoin managed to surpass the $70,000 mark and is trying to establish itself at this level.
Since March 19, the SOPR index has been above 1, which means that most BTC sell transactions have been profitable for investors for almost a whole month. As long as this indicator remains above 1, the risk of traders’ capitulation is minimal.
Overall, despite high volatility and unpredictability, Bitcoin demonstrates resilience and the ability to recover after periods of decline. However, investors should exercise caution and closely monitor market trends, considering the potential risks and factors that may affect the price of the leading cryptocurrency in the future.
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