Bitcoin held above $77,000 on Friday, consolidating after hitting its strongest level since early February earlier in the week.
The largest cryptocurrency is up about 13.6% in April, putting it on track for its best monthly performance in a year, according to CoinGlass data. The rebound follows a rough stretch, with crypto markets logging their longest losing streak since 2018, posting consecutive monthly declines from October through February.
The turnaround comes as the broader macro backdrop has improved. U.S. equities have staged a strong recovery, with the S&P 500 and Nasdaq climbing back to record highs after briefly slipping into correction territory earlier this year.
But there’s a crypto-specific driver behind the…
