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Fast Take

Knowledge from Coinglass exhibits that Bitcoin is presently going through a difficult month, because it experiences a big drawdown of over 11.2% in April. Up to now, this marks the worst-performing month for Bitcoin since August 2023, when it noticed an analogous drawdown of roughly 11.3%. To discover a extra extreme month-to-month decline, one would want to look again to November 2022, when Bitcoin skilled a 16.2% drawdown in the course of the FTX collapse.

Previous to this present downturn, Bitcoin had loved a seven-month streak of consecutive good points from September to March.

Nevertheless, the current volatility seems to have doubtlessly halted this optimistic development, although with two weeks remaining within the month. CryptoSlate had beforehand reported on April 4 that each day value drops of round 5% have been anticipated. Since then, Bitcoin has seen important each day declines, with a 3.5% drop on April 9 and roughly 4% drops on April 12, 13, and 15.

The submit Bitcoin’s April plunge: On monitor for worst month since August down 11% appeared first on CryptoSlate.

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