Bitcoin's start-of-the-month rally has pushed it close to $70,000, with altcoins and the broader crypto market following suit.
“What we’re seeing at the start of April isn’t really a repeatable calendar rally,” but more a positioning reset,” Wenny Cai, Founder and CEO of decentralized derivatives exchange SynFutures, told Decrypt. “After weeks of cautious sentiment and under-allocation, capital is starting to rotate back into higher-beta assets, especially altcoins.”
Volatility like that happens around the “turn of a new month or quarter, when portfolios get rebalanced, and traders put risk back on,” Cai explained.
Despite the easing geopolitical outlook, experts said Bitcoin’s structure remains weak.
That could leave markets at the behest of geopolitical headlines.
