Bitcoin’s April plunge: On track for worst month since August down 11%

Quick Take

Data from Coinglass shows that Bitcoin is currently facing a challenging month, as it experiences a significant drawdown of over 11.2% in April. So far, this marks the worst-performing month for Bitcoin since August 2023, when it saw a similar drawdown of approximately 11.3%. To find a more severe monthly decline, one would need to look back to November 2022, when Bitcoin experienced a 16.2% drawdown during the FTX collapse.

Prior to this current downturn, Bitcoin had enjoyed a seven-month streak of consecutive gains from September to March.

Bitcoin Monthly Returns: (Source: Coinglass)
Bitcoin Monthly Returns: (Source: Coinglass)

However, the recent volatility appears to have potentially halted this positive trend, though with two weeks remaining in the month. CryptoSlate had previously reported on April 4 that daily price drops of around 5% were expected. Since then, Bitcoin has seen significant daily declines, with a 3.5% drop on April 9 and roughly 4% drops on April 12, 13, and 15.

Daily Price Performance: (Source: Glassnode)
Daily Price Performance: (Source: Glassnode)

The post Bitcoin’s April plunge: On track for worst month since August down 11% appeared first on CryptoSlate.

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  • tezosTezos(XTZ)$0.701.39%
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  • theta-tokenTheta Network(THETA)$0.641.26%
  • bitcoin-cash-svBitcoin SV(BSV)$29.94-1.07%
  • nemNEM(XEM)$0.025210-0.32%
  • bitcoinBitcoin(BTC)$26,051.000.02%
  • ethereumEthereum(ETH)$1,652.21-0.04%
  • tetherTether(USDT)$1.00-0.08%
  • binancecoinBNB(BNB)$217.290.72%
  • rippleXRP(XRP)$0.521.75%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • cardanoCardano(ADA)$0.260196-0.85%
  • dogecoinDogecoin(DOGE)$0.0631641.33%
  • tronTRON(TRX)$0.0774861.09%
  • polkadotPolkadot(DOT)$4.501.99%
  • litecoinLitecoin(LTC)$65.301.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,065.000.00%
  • bitcoin-cashBitcoin Cash(BCH)$189.59-0.41%
  • uniswapUniswap(UNI)$4.58-0.60%
  • stellarStellar(XLM)$0.1229001.01%
  • moneroMonero(XMR)$141.101.34%
  • aaveAave(AAVE)$56.961.06%
  • havvenSynthetix Network(SNX)$2.06-0.07%
  • tezosTezos(XTZ)$0.701.39%
  • eosEOS(EOS)$0.581.13%
  • theta-tokenTheta Network(THETA)$0.641.26%
  • bitcoin-cash-svBitcoin SV(BSV)$29.94-1.07%
  • nemNEM(XEM)$0.025210-0.32%