TechFlow news, according to Reuters, Bitcoin experienced its worst monthly performance since late 2022 in April, breaking below the $58,000 support level amid anticipation of the Federal Reserve's upcoming interest rate decision and key U.S. labor market data releases. Bitcoin's value dropped nearly 16% in April as investors took profits following its rally above the historic high of $70,000.
The Fed is not expected to make any adjustments to interest rates later, but the growing belief among investors that the central bank may not cut rates at all this year has weighed heavily on rate-sensitive assets such as cryptocurrencies, emerging markets, equities, bonds, and even commodities.
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