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Bitcoin bulls attack $57,000 and altcoins rally as April comes to a close

April 30, 2021. Summarized by summa-bot.

Compression ratio: 39.6%. 1 min read.

Altcoins moved toward new highs and Bitcoin price rallied above $57,000 shortly after today’s uneventful $4.2 billion monthly options expiry.

Data from Cointelegraph Markets and TradingView shows that after a brief dip below the $53,000 support level on April 29, the price of Bitcoin staged a 10% rally back above $57,400 by midday.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for IOTX on April 27, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

As seen in the chart above, the VORTECS™ Score began to climb on April 26 and reached a high of 76 on April 27 before spiking to 73 again on April 29.

It's worth noting that the VORTECS™ Score hit 73  roughly 10 hours before the price spiked 75% to a new all-time high at $0. 0857.

The score stayed near that level (67) over the next day and then rapidly climbed to a high of 95 on April 30 as the price of PRQ rallied higher.

A score of 95 is one of the highest scores ever registered on the VORTECS™ system, and previous instances of scores in the mid to high 90’s have been shown to precede further price appreciation, as was recently demonstrated by Polygon (MATIC) this week.

by summa-bot

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