Bitcoin posted its worst monthly performance since the FTX crash, with interest rate prospects weighing it down
Golden Finance reported that the prospect of "higher and longer" interest rates is putting pressure on the cryptocurrency market, with Bitcoin experiencing its largest monthly decline since the collapse of SBF's FTX empire in November 2022. Bitcoin fell by nearly 16% in April, and the Bitcoin and Ether ETF launched in Hong Kong on Tuesday failed to provide momentum. There are increasing indications that the Federal Reserve may signal a delay in rate cuts after this week's meeting. Chris Weston, research director at Pepperstone, stated that the recent rise in US Treasury yields and real interest rates is putting pressure on gold, Bitcoin, and the US stock market.
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