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Fast Take
Information from Coinglass reveals that Bitcoin is at present going through a difficult month, because it experiences a major 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 identical drawdown of roughly 11.3%. To discover a extra extreme month-to-month decline, one would wish to look again to November 2022, when Bitcoin skilled a 16.2% drawdown through the FTX collapse.
Previous to this present downturn, Bitcoin had loved a seven-month streak of consecutive positive aspects from September to March.
Nonetheless, the latest volatility seems to have probably halted this constructive development, although with two weeks remaining within the month. CryptoSlate had beforehand reported on April 4 that day by day worth drops of round 5% had been anticipated. Since then, Bitcoin has seen important day by day declines, with a 3.5% drop on April 9 and roughly 4% drops on April 12, 13, and 15.
The publish Bitcoin’s April plunge: On monitor for worst month since August down 11% appeared first on CryptoSlate.
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