Bitcoin fell over 6% on Wednesday, its worst monthly performance since late 2022 in April
as investors withdrew assets from cryptocurrencies ahead of the Federal Reserve's approaching interest rate announcement.
The value of the world's most traded cryptocurrency fell by about 16% in April, as investors cashed out after a stunning surge that brought the price to record highs of more than $70,000.
Bitcoin fell by much to 5.6%, reaching its lowest level since late February. It was last observed down 4.8% at $57,001.
Meanwhile, ether losses were rather minor, falling by 3.6% to $2,857, the lowest level since February.
Bitcoin's current price is nearly 22% lower than the record high of $73,803 set in March, indicating a bear market.
However, it has increased by 35% since the beginning of the year and has doubled compared to this time last year
owing mostly to a significant inflow of capital into newly created exchange-traded funds since January.