Starting the week with a downward trend BTCcontinues its downward trend today.
Currently, Bitcoin, which has lost nearly 4 percent of its value in the last 24 hours, has fallen to $ 58,000. Ethereum, which lost an average of 10 percent of its value with the decline of Bitcoin, reached $ 2880.
Bitcoin, which closed April with a decline for the first time after a 7-month rise, left April behind at $60,600.
Currently, the most important support level appears to be $ 58,000. 4-hour and daily closes below this level may further deepen the decline.
As an important development yesterday, the trial of Binance founder Changpeng Zhao was held and he was sentenced to 4 months in prison. This development was welcomed positively for the cryptocurrency market.
Again, the most important development of this week is tonight’s Fed decision. The US Federal Reserve’s interest rate decision will be announced at 21:00 Türkiye time.
On the other hand, when we look at the fear and greed index, which measures market sensitivity, we see that it has moved to “Neutral” status with 54 points after a long time.
*This is not investment advice.
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