Many experts say that Bitcoin has soared in the day or for another reason

According to Sina Finance, a number of experts said that the April Fool's Day news that regulators approved the Bitcoin ETF over the weekend was not the reason for the recovery of Bitcoin. Bitwise CEO Hosley said the most likely explanation was that a private buyer reported by Reuters bought Bitcoin worth more than $100 million in the short term. Given the small daily trading volume of Bitcoin, this order is sufficient to have this effect. Brian Kelly, founder and CEO of BKCM, said bitcoin could reach key technical levels. Kelly noticed a key $4,200 price level triggering a stop loss trade. In Bitcoin and other assets, traders usually set a certain level so that they can automatically make up their short positions in time. According to Kelly, this may also indicate that the fundamentals are improving, and Bitcoin has exhausted the seller. And Jeff Dorman, chief information officer at Arca Funds, said the special rally was caused by a “simple” imbalance between buyers and sellers.