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.