Bitcoin
Bitcoin on pace for worst month since FTX crash as ETF demand cools
The prospect of higher interest rates for longer is weighing on crypto, underlined by deepening Bitcoin losses following the token’s worst monthly drop since the collapse of Sam Bankman-Fried’s FTX empire in November 2022.
The biggest digital asset fell nearly 16% in April as the U.S. spot Bitcoin exchange-traded fund craze stabilized after previously pushing the token to a record high of nearly $74,000 in March. Losses continued on Wednesday, with Bitcoin falling as much as 5.6%.