According to Foresight News, Bitcoin has seen its worst monthly performance since the end of 2022, falling below the $58,000 support level. This comes ahead of the Federal Reserve's upcoming interest rate decision and the release of crucial data from the US labor market. In April, the value of Bitcoin fell by nearly 16% as investors sought to take profits after the price rose to a historic high of over $70,000.
It is expected that the Federal Reserve will not make any adjustments to the interest rate. However, the belief among investors that the central bank may not cut interest rates at all this year is gaining traction. This could impact interest rate-sensitive assets such as cryptocurrencies, emerging markets, stocks, and bonds, and even commodities.