Bitcoin has suddenly shot higher, climbing after the expiration of $4.2 billion worth of bitcoin options contracts—allowing investors to buy or sell bitcoin at a specified price within a set time period—sent shockwaves through the crypto market.

The bitcoin price, still on track to end April down, jumped around 5% after the options expiry, climbing to just over $57,000 per bitcoin before falling back—though “joke” cryptocurrency dogecoin has left bitcoin in the dust this week.

With the bitcoin price breakout helping the crypto market to a strong end to the month, traders and investors are closely watching what May could bring.

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