It peaked at around $46,000 on April 4, but Bitcoin fell precipitously back to 38,000, causing a lot of frustration among cryptocurrency traders. In the last two months it had shown signs of a good recovery, but why has it fallen again?.
The regulation of Bitcoin and the S&P 500 is still ongoing, it is expected that
It lasts until mid-May, when Jerome Powell and the US Federal Reserve announce a likely 0.5% rate hike to combat inflation.
We must not forget a very important fact, in the last two months.
the BTC whales of this key group have fallen by 0.6% of their holdings. Meanwhile, the key group USDT has added 1.8% of the supply of the main stablecoin.
Although large whale addresses have abandoned their BTC supply, it is said to generally increase when there are more addresses containing 10 to 100,000 BTC. And the addresses it contains are about. 3.8 million in total has been created or returned to the BTC network since the Russo-Ukrainian war broke out in late February.
Source of Information: https://cointelegraph.com/news/is-bitcoin-price-optimism-fading-after-the-crypto-market-s-rocky-april
