The world’s largest cryptocurrency, Bitcoin, suffered its worst April fall since 2013, according to Coinglass.
Bitcoin has bounced back after falling sharply in the days leading up to the end of the month.
On Saturday night, the world’s biggest cryptocurrency fell to a low of $37,585 according to CoinMarketCap data.
The world’s largest cryptocurrency, Bitcoin, suffered its worst April performance in over a decade last month, according to Coinglass.
There is increasing anxiety among investors as the Federal Reserve’s Open Market Committee meets for a key meeting on Tuesday and Wednesday.
The Federal Reserve is expected to raise the base interest rate by half a percentage point, which hasn’t happened in 22 years.
Analysts anticipate a further half of one percentage point increase in June as the central bank battles to control red-hot price rises.
Bitcoin trading volumes have dropped in recent months because the prospect of higher interest rates has lured away some investors.
Despite the ups and downs over the weekend, Bitcoin has maintained a relatively flat seven-day trend — down by just 0.8 percent.
Over the last week, altcoins, on the other hand, have experienced double-digit losses.
Avalanche, Polkadot, and Polygon have all fallen in price by more than 15%. Uniswap, Decentraland, and The Sandbox have plunged in price by more than 20%.