Bitcoin’s Volatility Hits Highest Level in 2 Years

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In April, Bitcoin’s price fluctuation range reached its highest level since November 2022, reaching $70,711, according to Kaiko.

Analysts have also observed that since February, BTC has occasionally exhibited greater volatility than ETH.

The gap between the two leading cryptocurrencies has grown to its highest since December 2019, according to Kaiko’s study. Bitcoin reached a low of $65,264 in early April before recovering to $71,731 a week later.

However, it faced selling pressure and fell to $69,115 by mid-April. But with increasing support from large investors and the SOPR index remaining above 1 since March, which indicates that most BTC transactions are yielding profits for investors, Bitcoin was able to break above $70,000 and is attempting to establish itself at this level.

As long as the SOPR index remains above 1, the risk of traders capitulating is low.

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