Bitcoin reached its all-time high in March 2024, reaching $73,738. The leading cryptocurrency, which then began to decline, lost 15.51% in value over the past month. As Bitcoin volume fell below $1 trillion, this was the biggest monthly drop since November 2022, when the FTX exchange went bankrupt.

The decline in the crypto markets does not only affect Bitcoin. CoinDesk 20 Index Looking at it, we see a drop of 6.23% in the last 24 hours. Of course, there are some reasons for this decline. Economic factors added to the post-record corrections are among the reasons for the price drop.

Hong Kong’s stock market also failed to meet expectations

on the Hong Kong Stock Exchange spot transactions in investment funds Failure to show expected performance created interest rate risk in the cryptocurrency markets, and these investors resorted to selling their cryptos. This was effective in the decline of Bitcoin and other cryptos.

In general, it was found that there was also stagnation in the traditional markets. in America Nasdaq Yesterday ended with a decline of 2%. Borsa Istanbul has shown a similar trend recently. In such times, people turn to safer investment instruments. This has a negative effect on cryptocurrencies.

According to some experts, this decline in cryptocurrencies will continue for a while. Chief Investment Officer of crypto company Ledn According to John Glover Bitcoin price Range of 50-55 thousand dollars will decrease.

This content is not investment advice…