Bitcoin Sees Its Worst Monthly Decline Since August 2023
05/01/2024 14:55
Bitcoin just had a terrible month
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Bitcoin, the leading cryptocurrency, has just recorded its biggest monthly drop since August 2023.
The leading cryptocurrency plunged as much as 15% in April, with macroeconomic concerns and slowing ETF flows becoming the main bearish headwinds.
The largest cryptocurrency is down another 6% over the past 24 hours, plunging to an intraday low of $57,068 on the Bitstamp exchange.
In the meantime, Bitcoin ETFs recorded another $161 million worth of outflows. Grayscale's GBTC alone lost $93.2 million.
Notably, the "Fear and Greed" index has now dropped back to the "Neutral" level after the dramatic Bitcoin price crash.
Bitcoin is down as much as 14% over the past week alone.