Breaking a number of long-term downtrends, Bitcoin broke through a proverbial wall and surged to prices exceeding $4100, where it currently resides, according to OnChainFX, a market aggregator of the top 10 real-volume crypto exchanges. The trend continues slowly upward, with higher lows followed by brief green candles that may see BTC break a few more barriers in the near future.

Bullish news abounds with recent announcements, like Netflix and AirBnB accepting crypto via the Bitrefill gift card service. Adoption is also spreading in Japan, where it is rumored that the East Japan Railway Company is working with cloud and internet service provider IIJ to implement crypto payments for the vastly popular subway system, serving millions of riders on a daily basis. Users would simply refill a rechargeable contactless smart payment card with Bitcoin or other cryptos, which could then be used to pay rider fees and for purchasing transactions in subway terminal areas.

Perhaps most influential to the price of Bitcoin, futures contracts expired on the CME. This short-dominated derivatives market has been an effective price suppressor for the cryptocurrency. The CBOE has also announced it will no longer offer Bitcoin futures, with many speculating on the reasons for such a policy change. With recent revelations regarding the true trading volume of Bitcoin, it appears that future derivatives were, in fact, highly successful in taming Bitcoin’s volatility. Now that the latest batch of futures are expiring, one can expect volatility to increase significantly, at least for a brief period of time.