Today, the rate of the world’s main cryptocurrency has dropped to $38,223 from the March 15 level. This is 20% lower than the peak values ​​at the end of March, when it gave almost $48,000 for 1 BTC. During the day, the Bitcoin exchange rate rose slightly to $38,800, but analysts believe the world’s largest cryptocurrency will drop in the near future.

“Bitcoin is breaking key line of bimonthly trend, which could mean more retracement to January lows” , — says Fundstrat analyst Mark Newton, according to Market Watch. Bitcoin expects its value to drop to $36,300 and if it drops further, it could test the $32,950 level.

Investors are expecting a significant increase in the Fed’s base rate in the coming months, so some of the factors supporting the demand for cryptocurrencies are diminishing.

“As holding the dollar becomes more profitable, investors can transfer money in bitcoin or gold” – Nydig note experts. “We see a negative correlation between bitcoin dynamics and the dollar and interest rates.” .

Along with Bitcoin, other cryptocurrencies are also falling. Thus, the Ethereum rate fell 2.8% in the last 24 hours, Solana fell 4.7%, Cardano – 4.2%. But Ilona Maska’s favorite cryptocurrency is growing 4%. Presumably in the news that Twitter will still be sold to a billionaire.