Bitcoin Surges 13.6% in April, Highest Monthly Gain in a Year

Bitcoin surged 13.6% over April, achieving its highest monthly gain in a year. This rebound, with trading prices exceeding the $77,000 mark, is interpreted as a result of both an improving overall economic environment and a recovery in cryptocurrency market liquidity. U.S. stock markets (S&P 500, Nasdaq) also climbed to all-time highs.

Within the market, the expansion of Tether (USDT) supply was identified as a key variable. USDT's supply approached $150 billion, increasing by approximately $5 billion over the past two weeks and breaking away from a months-long stagnation trend.

Geopolitical tensions in the Middle East and elevated oil prices remained sources of macroeconomic uncertainty. However, both stock and cryptocurrency markets showed a trend of being less affected by news related to the conflict's development. Strong corporate earnings and a robust stock market offset concerns over high energy costs and geopolitical risks.

Bitcoin is currently trading near the upper end of its recent range, but the $79,000 level is acting as a strong resistance. Analyses also suggest that significant institutional sell orders are piling up just above this price point. The Federal Reserve's April meeting is expected to be a major market determinant going forward.