Reuters: Bitcoin's sharp drop may be affected by the prospect of tighter Federal Reserve interest rates
Golden Finance reported that in April, before the Federal Reserve announced its interest rate decision and important data on the US labor market, Bitcoin had its worst monthly performance since the end of 2022, falling below the $58,000 support level. The value of Bitcoin dropped by nearly 16% in April as investors sought to take profits after prices reached historical highs above $70,000. It is expected that the Federal Reserve will not make any adjustments to interest rates later on, but investors believe that the view that the central bank may not cut interest rates at all this year is becoming increasingly prevalent. This sentiment will have a negative impact on interest-sensitive assets such as cryptocurrencies and emerging markets, including stocks and bonds, and even commodities.
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