Bitcoin's Return Above $30,000 Sparks Optimism Among Traders

After a period of volatility, Bitcoin has managed to surpass the 30,000 Dollar mark on April 18, instilling a sense of optimism in traders. Michaël van de Poppe, founder and CEO of trading firm Eight, believes that this breakthrough signifies Bitcoin is back in range. He suggests that if the cryptocurrency retests the 29.7K level, it could potentially pave the way for a continuation towards new highs, possibly reaching 40K.

However, investors should be prepared for further volatility, particularly on lower timeframes, as Wall Street prepares to open. Short sellers are already experiencing pressure, with data from Coinglass revealing 16 million of BTC short liquidations occurring on the day.

In addition to Bitcoin's recent surge, altcoins such as Ethereum are also witnessing a rebound. Ether has managed to maintain its 2,000 support level, with bulls aiming to break the 2,140 threshold from April 16. Ethereum has also seen a 15 percent gain against Bitcoin since the Shapella upgrade.

It is crucial to remember that the information provided in this post should not be construed as financial advice. The cryptocurrency market is notoriously volatile, and past performance does not guarantee future results. Always conduct thorough research and consider your risk tolerance before making any investment decisions.