Amid the bullish sentiment in the cryptocurrency market after Bitcoin ($BTC) reclaimed its $81,000 mark this week, Coinbase released COIN50 Index data for April, where the overall crypto market witnessed strong performance over the last month.

According to the official data shared by Coinbase Institutional, the COIN50 Index has jumped by approximately 11.05% in the last month. One of the major reasons behind this surge is the easing of geopolitical tensions in the Middle East after the U.S. and Iran returned to peace talks following a ceasefire in the biggest war of the decade.

The upward momentum in the crypto market was witnessed after initial shocks earlier this year, when Bitcoin drastically plunged below $70,000. In April,…